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
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