If a promoter pays a lawyer N5,000 for services rendered in preparing a Memorandum of...
FINANCIAL
JAMB 1999
If a promoter pays a lawyer N5,000 for services rendered in preparing a Memorandum of Incorporation, the journal entry is to debit?
- A. preliminary expenses, credit cash accounts
- B. promoter, credit creditors' accounts
- C. lawyer's credit cash accounts
- D. cash , credit incorporation accounts
Correct Answer: A. preliminary expenses, credit cash accounts
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