Post Utme Oau 2019 Accounting Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Oau Accounting examination.

Post Utme Oau 2019 Accounting Objective / Multiple Choice
Question 10 POST_UTME_OAU • 2019 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The trial balance shows the following balances: Accounts Payable ₦ 50,000, Sales Revenue ₦ 100,000, Cost of Goods Sold ₦ 80,000, and Common Stock ₦ 200,000. What is the correct journal entry to record the sale of goods on credit to a customer?

Answer Options

A. Debit Accounts Payable ₦ 80,000, Credit Sales Revenue ₦ 100,000
B. Debit Sales Revenue ₦ 80,000, Credit Cost of Goods Sold ₦ 80,000
Correct Answer C. Debit Accounts Payable ₦ 80,000, Credit Sales Revenue ₦ 80,000
D. Debit Sales Revenue ₦ 100,000, Credit Cost of Goods Sold ₦ 80,000
Correct Answer
C
Correct Option:
Debit Accounts Payable ₦ 80,000, Credit Sales Revenue ₦ 80,000

About This Question

This is Post Utme Oau 2019 Accounting Question 10. It is one of the objective questions from the 2019 Post Utme Oau Accounting examination.

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