Neco Model Questions Vol1 2023 Financial Accounting Question 9

Practice objective / multiple choice question 9 from the 2023 Neco Model Questions Vol1 Financial Accounting examination.

Neco Model Questions Vol1 2023 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 9 NECO_MODEL_QUESTIONS_VOL1 • 2023 • FINANCIAL_ACCOUNTING • objective

A company purchased office equipment for cash amounting to \(25,000\). Record the journal entry for this transaction.

Answer Options

Correct Answer A. Debit Office Equipment 25,000; Credit Cash 25,000
B. Debit Cash 25,000; Credit Office Equipment 25,000
C. Debit Office Equipment 20,000; Credit Cash 20,000
D. Debit Office Equipment 25,000; Credit Accounts Payable 25,000
Correct Answer
A
Correct Option:
Debit Office Equipment 25,000; Credit Cash 25,000

About This Question

This is Neco Model Questions Vol1 2023 Financial Accounting Question 9. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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