Post Utme Uniport 2025 Accounting Question 20

Practice objective / multiple choice question 20 from the 2025 Post Utme Uniport Accounting examination.

Post Utme Uniport 2025 Accounting Objective / Multiple Choice
Question 20 POST_UTME_UNIPORT • 2025 • ACCOUNTING • objective

A 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 payment of accounts payable?

Answer Options

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

About This Question

This is Post Utme Uniport 2025 Accounting Question 20. It is one of the objective questions from the 2025 Post Utme Uniport Accounting examination.

View More Post Utme Uniport 2025 Accounting Questions More Post Utme Uniport 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