Neco Model Questions Vol1 2022 Financial Accounting Question 12
Practice objective / multiple choice question 12 from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
A company maintains a purchases journal. During a month it recorded 12 purchases on credit. Two of those purchases were later fully returned, each return being entered in the purchase returns journal. One purchase was partially returned: a return entry for \(\₦4,500\) was made and the remaining balance was recorded as a new purchase entry. A mistakenly recorded purchase of \(\₦7,200\) was subsequently reversed by a contra entry. How many total entries are recorded across the purchases journal, the purchase returns journal, and the correction entry for that month?
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About This Question
This is Neco Model Questions Vol1 2022 Financial Accounting Question 12. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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