Post Utme Redeemers University 2021 Accounting Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2021 Accounting Objective / Multiple Choice
Question 6 POST_UTME_REDEEMERS_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions occurred during the month of January: Purchased office supplies for ₦10,000, sold goods for ₦50,000, and paid salaries of ₦20,000. Prepare the journal entries for these transactions.

Answer Options

Correct Answer A. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
B. Debit Office Supplies ₦10,000, Credit Sales ₦50,000
C. Debit Office Supplies ₦10,000, Credit Salaries ₦20,000
D. Debit Office Supplies ₦10,000, Credit Cash ₦50,000
Correct Answer
A
Correct Option:
Debit Office Supplies ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Redeemers University 2021 Accounting Question 6. It is one of the objective questions from the 2021 Post Utme Redeemers University Accounting examination.

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