Waec Model Questions Vol1 2019 Financial Accounting Question 37
Practice objective / multiple choice question 37 from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
The following journal entries were recorded for Alpha Co. during January: 1. Jan 5 - Bought office supplies on credit N8,000. 2. Jan 12 - Paid cash for utilities N3,500. 3. Jan 20 - Sold goods for cash N15,000; cost of goods sold N9,000. 4. Jan 28 - Received cash from a customer for a previous credit sale N5,000. 5. Jan 31 - Returned office supplies to the supplier for N2,000 (reversal of part of the Jan 5 purchase). After posting these entries to the ledger, what is the balance (debit or credit) of the Office Supplies account at month‑end?
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About This Question
This is Waec Model Questions Vol1 2019 Financial Accounting Question 37. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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