Post Utme Mountain Top University 2021 Accounting Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2021 Accounting Objective / Multiple Choice
Question 37 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2021 • ACCOUNTING • objective

A company has the following transactions: Purchased office equipment for ₦50,000, paid salaries ₦30,000, and received cash from customers ₦20,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Equipment ₦50,000, Credit Cash ₦50,000
B. Debit Salaries ₦30,000, Credit Cash ₦30,000
C. Debit Cash ₦20,000, Credit Customers ₦20,000
D. Debit Office Equipment ₦50,000, Credit Salaries ₦30,000
Correct Answer
A
Correct Option:
Debit Office Equipment ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Mountain Top University 2021 Accounting Question 37. It is one of the objective questions from the 2021 Post Utme Mountain Top University Accounting examination.

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