Post Utme Lasu 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Lasu Accounting examination.

Post Utme Lasu 2022 Accounting Objective / Multiple Choice

Question 17 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.

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

N/A

This is Post Utme Lasu 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Lasu Accounting examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows