Post Utme Unn 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Unn Accounting examination.

Post Utme Unn 2022 Accounting Objective / Multiple Choice

Question 17 POST_UTME_UNN • 2022 • ACCOUNTING • objective

A company has the following transactions: Purchased goods for ₦50,000, Sold goods for ₦70,000, and Purchased equipment for ₦30,000. Prepare the journal entries for the transactions.

A. Debit Purchases ₦50,000, Credit Cash ₦50,000

B. Debit Sales ₦70,000, Credit Cash ₦70,000

Correct Answer C. Debit Equipment ₦30,000, Credit Cash ₦30,000

D. Debit Purchases ₦50,000, Credit Sales ₦70,000

Correct Answer

Correct Option:

Debit Equipment ₦30,000, Credit Cash ₦30,000

This is Post Utme Unn 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Unn Accounting examination.

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