Post Utme Mountain Top University 2017 Accounting Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2017 Accounting Objective / Multiple Choice
Question 27 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ACCOUNTING • objective

A public sector organization has the following transactions: Purchase of office supplies for ₦10,000, Payment of salaries for ₦50,000, and Receipt of cash from customers for ₦20,000. What is the correct journal entry for these transactions?

Answer Options

A. ₦10,000 debit to Office Supplies and ₦50,000 credit to Salaries
B. ₦50,000 debit to Salaries and ₦20,000 credit to Cash
Correct Answer C. ₦10,000 debit to Office Supplies and ₦20,000 credit to Cash
D. ₦50,000 debit to Salaries and ₦10,000 credit to Office Supplies
Correct Answer
C
Correct Option:
₦10,000 debit to Office Supplies and ₦20,000 credit to Cash

About This Question

This is Post Utme Mountain Top University 2017 Accounting Question 27. It is one of the objective questions from the 2017 Post Utme Mountain Top University Accounting examination.

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