Post Utme Lautech 2020 Accounting Question 28

Practice objective / multiple choice question 28 from the 2020 Post Utme Lautech Accounting examination.

Post Utme Lautech 2020 Accounting Objective / Multiple Choice
Question 28 POST_UTME_LAUTECH • 2020 • ACCOUNTING • objective

A company's cash book shows the following transactions: Cash received from customers ₦50,000, Cash paid to suppliers ₦30,000. What is the correct journal entry to record this transaction?

Answer Options

A. Debit Cash A/c ₦50,000, Credit Sales A/c ₦50,000
Correct Answer B. Debit Cash A/c ₦50,000, Credit Purchases A/c ₦30,000
C. Debit Sales A/c ₦50,000, Credit Cash A/c ₦50,000
D. Debit Purchases A/c ₦30,000, Credit Cash A/c ₦30,000
Correct Answer
B
Correct Option:
Debit Cash A/c ₦50,000, Credit Purchases A/c ₦30,000

About This Question

This is Post Utme Lautech 2020 Accounting Question 28. It is one of the objective questions from the 2020 Post Utme Lautech Accounting examination.

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