Neco Model Questions Vol1 2024 Financial Accounting Question 23
Practice objective / multiple choice question 23 from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
On 15 March the company bought a delivery van for ₦80,000 cash and simultaneously obtained a bank loan of ₦50,000, part of which was used to pay for the van. Registration fees of ₦5,000 were also paid in cash on the same day. Prepare the journal entry for 15 March and state the total debit amount recorded in the journal.
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About This Question
This is Neco Model Questions Vol1 2024 Financial Accounting Question 23. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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