Neco 2025 Financial Accounting Question 14

Practice objective / multiple choice question 14 from the 2025 Neco Financial Accounting examination.

Neco 2025 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 14 NECO • 2025 • FINANCIAL_ACCOUNTING • objective

A customer who previously bought goods on credit for \(45,000\) pays the amount in cash. Record the journal entry using the double‑entry system.

Answer Options

A. Debit Cash 45,000; Credit Sales Revenue 45,000
B. Debit Trade Receivables 45,000; Credit Cash 45,000
C. Debit Cash 45,000; Credit Trade Receivables 40,000
Correct Answer D. Debit Cash 45,000; Credit Trade Receivables 45,000
Correct Answer
D
Correct Option:
Debit Cash 45,000; Credit Trade Receivables 45,000

About This Question

This is Neco 2025 Financial Accounting Question 14. It is one of the objective questions from the 2025 Neco Financial Accounting examination.

Difficulty level: Easy .

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