Post Utme Rsu 2023 Accounting Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Rsu Accounting examination.

Post Utme Rsu 2023 Accounting Objective / Multiple Choice
Question 20 POST_UTME_RSU • 2023 • ACCOUNTING • objective

A company has the following trial balance: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Accounts Payable | ₦0 | ₦15,000 | | Sales Revenue | ₦0 | ₦20,000 | | Cost of Goods Sold | ₦8,000 | ₦0 | | Total | ₦18,000 | ₦35,000 | What is the correct journal entry to record the sale of goods on credit to a customer for ₦12,000?

Answer Options

A. Debit Sales Revenue ₦12,000, Credit Accounts Receivable ₦12,000
B. Debit Cost of Goods Sold ₦12,000, Credit Sales Revenue ₦12,000
C. Debit Sales Revenue ₦12,000, Credit Cash ₦12,000
Correct Answer D. Debit Accounts Receivable ₦12,000, Credit Sales Revenue ₦12,000
Correct Answer
D
Correct Option:
Debit Accounts Receivable ₦12,000, Credit Sales Revenue ₦12,000

About This Question

This is Post Utme Rsu 2023 Accounting Question 20. It is one of the objective questions from the 2023 Post Utme Rsu Accounting examination.

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