Waec Model Questions Vol1 2022 Financial Accounting Question 47

Practice objective / multiple choice question 47 from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Waec Model Questions Vol1 2022 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 47 WAEC_MODEL_QUESTIONS_VOL1 • 2022 • FINANCIAL_ACCOUNTING • objective

A customer paid ₦120,000 in cash for an account receivable that was previously recorded. Record the journal entry in the cash book.

Answer Options

Correct Answer A. Debit Cash ₦120,000; Credit Accounts Receivable ₦120,000
B. Debit Cash ₦120,000; Credit Sales Revenue ₦120,000
C. Debit Accounts Receivable ₦120,000; Credit Cash ₦120,000
D. Debit Cash ₦100,000; Credit Accounts Receivable ₦120,000
Correct Answer
A
Correct Option:
Debit Cash ₦120,000; Credit Accounts Receivable ₦120,000

About This Question

This is Waec Model Questions Vol1 2022 Financial Accounting Question 47. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

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