Post Utme Unn 2019 Accounting Question 38

Practice objective / multiple choice question 38 from the 2019 Post Utme Unn Accounting examination.

Post Utme Unn 2019 Accounting Objective / Multiple Choice

Question 38 POST_UTME_UNN • 2019 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦150,000 on credit, sold goods for ₦200,000 on credit, and paid ₦50,000 in cash. Prepare the ledger accounts for the above transactions.

Correct Answer A. Purchases: ₦150,000, Sales: ₦200,000, Cash: ₦50,000

B. Accounts Payable: ₦150,000, Accounts Receivable: ₦200,000, Cash: ₦50,000

C. Purchases: ₦150,000, Sales: ₦200,000, Accounts Payable: ₦50,000

D. Accounts Receivable: ₦200,000, Accounts Payable: ₦150,000, Cash: ₦50,000

Correct Answer

Correct Option:

Purchases: ₦150,000, Sales: ₦200,000, Cash: ₦50,000

This is Post Utme Unn 2019 Accounting Question 38. It is one of the objective questions from the 2019 Post Utme Unn Accounting examination.

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