Post Utme Uniport 2018 Accounting Question 29

Practice objective / multiple choice question 29 from the 2018 Post Utme Uniport Accounting examination.

Post Utme Uniport 2018 Accounting Objective / Multiple Choice
Question 29 POST_UTME_UNIPORT • 2018 • ACCOUNTING • objective

A company uses the single entry system. The following transactions occurred during the year: Purchase of goods for ₦50,000, Sale of goods for ₦75,000, and Payment of ₦20,000 to a creditor. Prepare the ledger accounts for the company.

Answer Options

Correct Answer A. Debit Purchases ₦50,000, Credit Cash ₦50,000
B. Debit Sales ₦75,000, Credit Cash ₦75,000
C. Debit Creditor ₦20,000, Credit Cash ₦20,000
D. Debit Purchases ₦50,000, Credit Sales ₦75,000
Correct Answer
A
Correct Option:
Debit Purchases ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Uniport 2018 Accounting Question 29. It is one of the objective questions from the 2018 Post Utme Uniport Accounting examination.

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