Post Utme Unilag 2024 Accounting Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Unilag Accounting examination.

Post Utme Unilag 2024 Accounting Objective / Multiple Choice
Question 29 POST_UTME_UNILAG • 2024 • ACCOUNTING • objective

A company uses the double-entry system of accounting. The following transactions were recorded in the journal during the month of January:

Answer Options

A. Debit Cash 1,000 and Credit Accounts Payable 1,000
Correct Answer B. Debit Accounts Payable 1,000 and Credit Cash 1,000
C. Debit Cash 1,000 and Credit Accounts Receivable 1,000
D. Debit Accounts Receivable 1,000 and Credit Cash 1,000
Correct Answer
B
Correct Option:
Debit Accounts Payable 1,000 and Credit Cash 1,000

About This Question

This is Post Utme Unilag 2024 Accounting Question 29. It is one of the objective questions from the 2024 Post Utme Unilag Accounting examination.

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