Neco 2021 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2021 Neco Financial Accounting examination.
A company purchased machinery costing ₦120,000 on credit from Supplier A. The supplier gave a \(5\%\) trade discount on the invoice. The company paid ₦30,000 cash immediately and will settle the balance within 30 days. Freight‑in of ₦4,500 was paid by cash. State the total amount that will be posted to the Purchase Journal and to the Cash Payments Journal.
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About This Question
This is Neco 2021 Financial Accounting Question 37. It is one of the objective questions from the 2021 Neco Financial Accounting examination.
Difficulty level: Medium .
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