Post Utme Lead City University 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the month of January: Purchased office supplies for ₦10,000, sold goods for ₦50,000, and paid salaries of ₦20,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
B. Debit Cash ₦50,000, Credit Sales ₦50,000
C. Debit Salaries ₦20,000, Credit Cash ₦20,000
D. Debit Office Supplies ₦10,000, Credit Sales ₦10,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Lead City University 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Lead City University Accounting examination.

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