Post Utme Madonna University 2020 Accounting Question 10

Practice objective / multiple choice question 10 from the 2020 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2020 Accounting Objective / Multiple Choice
Question 10 POST_UTME_MADONNA_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has the following transactions: Purchased goods on credit for ₦100,000; Sold goods on credit for ₦80,000. Prepare the ledger accounts for the above transactions.

Answer Options

A. Debit Purchases ₦100,000, Credit Accounts Payable ₦100,000
B. Debit Sales ₦80,000, Credit Accounts Receivable ₦80,000
C. Debit Purchases ₦100,000, Credit Sales ₦80,000
Correct Answer D. All of the above
Correct Answer
D
Correct Option:
All of the above

About This Question

This is Post Utme Madonna University 2020 Accounting Question 10. It is one of the objective questions from the 2020 Post Utme Madonna University Accounting examination.

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