Post Utme Pan Atlantic University 2017 Accounting Question 22

Practice objective / multiple choice question 22 from the 2017 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2017 Accounting Objective / Multiple Choice
Question 22 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following transactions: Purchased office equipment for 5,000, paid 2,000 cash, and borrowed 3,000 from a bank. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Equipment 5,000, Credit Cash 2,000, Credit Bank Loan 3,000
B. Debit Office Equipment 5,000, Credit Cash 5,000
C. Debit Office Equipment 5,000, Credit Bank Loan 3,000
D. Debit Office Equipment 5,000, Credit Cash 3,000
Correct Answer
A
Correct Option:
Debit Office Equipment 5,000, Credit Cash 2,000, Credit Bank Loan 3,000

About This Question

This is Post Utme Pan Atlantic University 2017 Accounting Question 22. It is one of the objective questions from the 2017 Post Utme Pan Atlantic University Accounting examination.

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