Post Utme Osustech 2020 Accounting Question 14

Practice objective / multiple choice question 14 from the 2020 Post Utme Osustech Accounting examination.

Post Utme Osustech 2020 Accounting Objective / Multiple Choice
Question 14 POST_UTME_OSUSTECH • 2020 • ACCOUNTING • objective

A trader's ledger account for 'Sales' shows a credit balance of ₦60,000. However, the 'Sales Return' account shows a debit balance of ₦5,000. What is the correct journal entry to record the return of goods?

Answer Options

A. Credit 'Sales Return' and debit 'Sales'.
Correct Answer B. Debit 'Sales Return' and credit 'Sales'.
C. Debit 'Sales' and credit 'Sales Return'.
D. Credit 'Sales' and debit 'Sales Return'.
Correct Answer
B
Correct Option:
Debit 'Sales Return' and credit 'Sales'.

About This Question

This is Post Utme Osustech 2020 Accounting Question 14. It is one of the objective questions from the 2020 Post Utme Osustech Accounting examination.

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