Post Utme Mountain Top University 2017 Accounting Question 8

Practice objective / multiple choice question 8 from the 2017 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2017 Accounting Objective / Multiple Choice
Question 8 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance shows the following balances: Accounts Payable (₦10,000), Accounts Receivable (₦5,000), and Sales Revenue (₦20,000). What is the correct journal entry to record the sale of goods on credit?

Answer Options

A. Debit Accounts Payable, Credit Sales Revenue
B. Debit Accounts Receivable, Credit Sales Revenue
C. Debit Sales Revenue, Credit Accounts Payable
Correct Answer D. Debit Sales Revenue, Credit Accounts Receivable
Correct Answer
D
Correct Option:
Debit Sales Revenue, Credit Accounts Receivable

About This Question

This is Post Utme Mountain Top University 2017 Accounting Question 8. It is one of the objective questions from the 2017 Post Utme Mountain Top University Accounting examination.

View More Post Utme Mountain Top University 2017 Accounting Questions More Post Utme Mountain Top University Practice Questions Back to Questions

Master the Exam!

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
Chat with Support