Post Utme Lasu 2022 Accounting Question 13

Practice objective / multiple choice question 13 from the 2022 Post Utme Lasu Accounting examination.

Post Utme Lasu 2022 Accounting Objective / Multiple Choice
Question 13 POST_UTME_LASU • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies on account for ₦5,000, Sold merchandise on account for ₦20,000, Purchased merchandise for ₦15,000 cash. Prepare a journal entry for the above transactions.

Answer Options

Correct Answer A. Debit Office Supplies ₦5,000, Credit Cash ₦5,000
B. Debit Office Supplies ₦5,000, Credit Accounts Payable ₦5,000
C. Debit Cash ₦15,000, Credit Merchandise ₦15,000
D. Debit Accounts Payable ₦20,000, Credit Sales ₦20,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦5,000, Credit Cash ₦5,000

About This Question

This is Post Utme Lasu 2022 Accounting Question 13. It is one of the objective questions from the 2022 Post Utme Lasu Accounting examination.

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