Neco Model Questions Vol1 2024 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
On 1 March, a sole trader had a cash balance of \(50,000\) Naira. On that day the business received a cash loan of \(200,000\) Naira from a bank and purchased inventory on credit for \(80,000\) Naira. Record the journal entries for these two transactions and state the cash balance after posting them.
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About This Question
This is Neco Model Questions Vol1 2024 Financial Accounting Question 13. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Easy .
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