Post Utme Pan Atlantic University 2017 Accounting Question 25

Practice objective / multiple choice question 25 from the 2017 Post Utme Pan Atlantic University Accounting examination.

Post Utme Pan Atlantic University 2017 Accounting Objective / Multiple Choice
Question 25 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2017 • ACCOUNTING • objective

A company has the following transactions: Sold office equipment for 6,000, purchased office equipment for 8,000, and paid 2,000 cash. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Equipment 8,000, Credit Cash 2,000, Credit Bank Loan 6,000
B. Debit Office Equipment 8,000, Credit Cash 6,000
C. Debit Office Equipment 8,000, Credit Bank Loan 6,000
D. Debit Office Equipment 8,000, Credit Cash 8,000
Correct Answer
A
Correct Option:
Debit Office Equipment 8,000, Credit Cash 2,000, Credit Bank Loan 6,000

About This Question

This is Post Utme Pan Atlantic University 2017 Accounting Question 25. It is one of the objective questions from the 2017 Post Utme Pan Atlantic University Accounting examination.

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