Post Utme Uniport 2025 Accounting Question 3

Practice objective / multiple choice question 3 from the 2025 Post Utme Uniport Accounting examination.

Post Utme Uniport 2025 Accounting Objective / Multiple Choice
Question 3 POST_UTME_UNIPORT • 2025 • ACCOUNTING • objective

A company has the following transactions: Purchased office supplies on account for ₦10,000, Sold merchandise for cash for ₦20,000, and Purchased a piece of equipment for ₦50,000 on credit. Prepare the company's journal entries for these transactions.

Answer Options

A. Debit Office Supplies ₦10,000, Credit Accounts Payable ₦10,000
B. Debit Cash ₦20,000, Credit Sales ₦20,000
Correct Answer C. Debit Equipment ₦50,000, Credit Accounts Payable ₦50,000
D. Debit Office Supplies ₦10,000, Credit Cash ₦10,000
Correct Answer
C
Correct Option:
Debit Equipment ₦50,000, Credit Accounts Payable ₦50,000

About This Question

This is Post Utme Uniport 2025 Accounting Question 3. It is one of the objective questions from the 2025 Post Utme Uniport Accounting examination.

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