Neco 2019 Financial Accounting Question 29

A company records the following July transactions. For each transaction indicate the appropriate book of original entry (Sales Journal, Purchase Journal, Cash Payments Journal, Cash Receipts Journal, General Journal) and compute the total amount posted to the Cash Payments Journal for the month.\n1. Purchased inventory on credit from Supplier X for ₦120,000, terms 2/10, n/30; the amount was paid in cash on July 9 within the discount period.\n2. Paid cash for utility expenses ₦15,000.\n3. Sold goods on credit to Customer Y for ₦80,000, terms 3/30.\n4. Received cash from Customer Z for a previous credit sale, amount ₦25,000.\n5. Paid cash for purchase of office equipment ₦45,000.\n6. Purchased office supplies on credit for ₦10,000.\n7. Paid cash for freight on the inventory purchased in transaction 1, amount ₦5,000.