Goods were purchased for resale on credit costing ₦150,000 on 30th September 2008 from Tosanwumi
FINANCIAL
JAMB 2019
Goods were purchased for resale on credit costing ₦150,000 on 30th September 2008 from Tosanwumi International. The entry to record these transaction is debit
- A. Tosanwumi International, credit purchase Account
- B. Purchase Account ₦150,000, credit Tosanwumi International Account ₦150,000
- C. Credit Account ₦150,000, Credit Tosanwumi International ₦150,000
- D. Tosanwumi International ₦150,000, credit credit Account ₦150,000
Correct Answer: B. Purchase Account ₦150,000, credit Tosanwumi International Account ₦150,000
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *