Neco Model Questions Vol1 2023 Financial Accounting Question 10

Practice objective / multiple choice question 10 from the 2023 Neco Model Questions Vol1 Financial Accounting examination.

Neco Model Questions Vol1 2023 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 10 NECO_MODEL_QUESTIONS_VOL1 • 2023 • FINANCIAL_ACCOUNTING • objective

The business received \(15,000\) in cash from a customer on account. Record the appropriate journal entry.

Answer Options

A. Debit Cash 15,000; Credit Sales Revenue 15,000
B. Debit Cash 15,000; Credit Accounts Payable 15,000
Correct Answer C. Debit Cash 15,000; Credit Trade Receivables 15,000
D. Debit Trade Receivables 15,000; Credit Cash 15,000
Correct Answer
C
Correct Option:
Debit Cash 15,000; Credit Trade Receivables 15,000

About This Question

This is Neco Model Questions Vol1 2023 Financial Accounting Question 10. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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