Post Utme Unilorin 2024 Accounting Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 8 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦10,000, sold goods for ₦15,000, and paid a bank charge of ₦1,000. What is the correct journal entry for these transactions?

Answer Options

A. Debit: Purchases ₦10,000, Credit: Sales ₦15,000, Debit: Bank Charges ₦1,000
B. Debit: Purchases ₦10,000, Credit: Sales ₦15,000, Credit: Bank Charges ₦1,000
Correct Answer C. Debit: Purchases ₦10,000, Credit: Sales ₦15,000, Debit: Bank Charges ₦1,000
D. Debit: Purchases ₦10,000, Credit: Sales ₦15,000, Credit: Bank Charges ₦1,000
Correct Answer
C
Correct Option:
Debit: Purchases ₦10,000, Credit: Sales ₦15,000, Debit: Bank Charges ₦1,000

About This Question

This is Post Utme Unilorin 2024 Accounting Question 8. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

View More Post Utme Unilorin 2024 Accounting Questions More Post Utme Unilorin Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support