Post Utme Unn 2023 Accounting Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Unn Accounting examination.

Post Utme Unn 2023 Accounting Objective / Multiple Choice
Question 38 POST_UTME_UNN • 2023 • ACCOUNTING • objective

A company's single entry system shows the following transactions: | Date | Particulars | Debit | Credit | | --- | --- | --- | --- | | 1st Jan | Purchase | ₦20,000 | | | 2nd Jan | Purchase | | ₦18,000 | | 3rd Jan | Purchase | | ₦22,000 | What is the correct journal entry to record the purchase of goods?

Answer Options

A. Debit Purchase ₦60,000, Credit Cash ₦60,000
Correct Answer B. Debit Purchase ₦60,000, Credit Accounts Payable ₦60,000
C. Debit Purchase ₦60,000, Credit Cash ₦20,000
D. Debit Purchase ₦60,000, Credit Accounts Payable ₦18,000
Correct Answer
B
Correct Option:
Debit Purchase ₦60,000, Credit Accounts Payable ₦60,000

About This Question

This is Post Utme Unn 2023 Accounting Question 38. It is one of the objective questions from the 2023 Post Utme Unn Accounting examination.

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