Post Utme Uniport 2025 Accounting Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Uniport Accounting examination.

Post Utme Uniport 2025 Accounting Objective / Multiple Choice
Question 16 POST_UTME_UNIPORT • 2025 • ACCOUNTING • objective

A company uses the double-entry system to record its transactions. The company's trial balance shows the following balances: Accounts Payable ₦ 50,000, Sales Revenue ₦ 100,000, Cost of Goods Sold ₦ 70,000, and Common Stock ₦ 30,000. What is the correct journal entry to record the sale of goods on credit to a customer?

Answer Options

A. Debit Accounts Payable ₦ 50,000 and Credit Sales Revenue ₦ 100,000
Correct Answer B. Debit Sales Revenue ₦ 100,000 and Credit Cost of Goods Sold ₦ 70,000
C. Debit Common Stock ₦ 30,000 and Credit Sales Revenue ₦ 100,000
D. Debit Accounts Payable ₦ 50,000 and Credit Cost of Goods Sold ₦ 70,000
Correct Answer
B
Correct Option:
Debit Sales Revenue ₦ 100,000 and Credit Cost of Goods Sold ₦ 70,000

About This Question

This is Post Utme Uniport 2025 Accounting Question 16. It is one of the objective questions from the 2025 Post Utme Uniport Accounting examination.

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