Post Utme Noun 2023 Accounting Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice

Question 38 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A company purchases a machine for ₦200,000 and pays ₦40,000 as cash and the balance by a bank loan. What is the journal entry to record the purchase?

A. ₦200,000 debit to Bank and ₦40,000 credit to Cash

Correct Answer B. ₦200,000 debit to Cash and ₦40,000 credit to Bank

C. ₦200,000 debit to Bank and ₦40,000 debit to Cash

D. ₦200,000 debit to Cash and ₦40,000 credit to Bank

Correct Answer

Correct Option:

₦200,000 debit to Cash and ₦40,000 credit to Bank

This is Post Utme Noun 2023 Accounting Question 38. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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