Gce Model Questions Vol1 2019 Financial Accounting Question 42

Practice objective / multiple choice question 42 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.

Gce Model Questions Vol1 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty

Question 42 GCE_MODEL_QUESTIONS_VOL1 • 2019 • FINANCIAL_ACCOUNTING • objective

A business purchased office equipment on credit for £\(5,600\). The supplier offered a cash discount of 1.5 % if payment is made within 20 days. Record the journal entry at the date of purchase.

Answer Options

A. Debit Office Equipment £5,528; Credit Accounts Payable £5,528

B. Debit Office Equipment £5,600; Credit Discount Received £5,600

C. Debit Office Equipment £5,600; Credit Cash £5,600

Correct Answer D. Debit Office Equipment £5,600; Credit Accounts Payable £5,600

Correct Answer

Correct Option:

Debit Office Equipment £5,600; Credit Accounts Payable £5,600

About This Question

This is Gce Model Questions Vol1 2019 Financial Accounting Question 42. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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Gce Model Questions Vol1 2019 Financial Accounting Question 42

A business purchased office equipment on credit for £\(5,600\). The supplier offered a cash discount of 1.5 % if payment is made within 20 days. Record the journal entry at the date of purchase.

Answer Options

About This Question

Master the Exam!

A business purchased office equipment on credit for £\(5,600\). The supplier offered a cash discount of 1.5 % if payment is made within 20 days. Record the journal entry at the date of purchase.