Gce Model Questions Vol1 2018 Financial Accounting Question 14

Practice objective / multiple choice question 14 from the 2018 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2018 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 14 GCE_MODEL_QUESTIONS_VOL1 • 2018 • FINANCIAL_ACCOUNTING • objective

A company purchases office supplies costing \(1{,}200\). It pays cash of \(300\) at the time of purchase and agrees to pay the balance later. Record the journal entry for this transaction using double‑entry bookkeeping.

Answer Options

A. Debit Office Supplies £1,200; Credit Cash £400; Credit Accounts Payable £800

Correct Answer B. Debit Office Supplies £1,200; Credit Cash £300; Credit Accounts Payable £900

C. Debit Office Supplies £1,200; Credit Cash £300; Credit Accounts Payable £1,000

D. Debit Office Supplies £1,200; Credit Cash £200; Credit Accounts Payable £1,000

Correct Answer

Correct Option:

Debit Office Supplies £1,200; Credit Cash £300; Credit Accounts Payable £900

About This Question

This is Gce Model Questions Vol1 2018 Financial Accounting Question 14. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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