Post Utme Unilorin 2019 Accounting Question 27

Practice objective / multiple choice question 27 from the 2019 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2019 Accounting Objective / Multiple Choice
Question 27 POST_UTME_UNILORIN • 2019 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger shows the following balances: Cash: ₦100,000; Accounts Receivable: ₦50,000; Accounts Payable: ₦30,000. What is the correct journal entry to record the sale of goods on credit to a customer?

Answer Options

A. Debit Sales Revenue ₦50,000; Credit Accounts Receivable ₦50,000.
Correct Answer B. Debit Accounts Receivable ₦50,000; Credit Sales Revenue ₦50,000.
C. Debit Sales Revenue ₦50,000; Credit Cash ₦50,000.
D. Debit Accounts Payable ₦30,000; Credit Sales Revenue ₦50,000.
Correct Answer
B
Correct Option:
Debit Accounts Receivable ₦50,000; Credit Sales Revenue ₦50,000.

About This Question

This is Post Utme Unilorin 2019 Accounting Question 27. It is one of the objective questions from the 2019 Post Utme Unilorin Accounting examination.

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