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Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total...

Accounts - Principles of Accounts
JAMB 2012

Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.
The record in Jide's book would be to debit

  • A. purchases #12,000 and credit Ibrahim #12,000
  • B. purchases #12,000 and credit sugar account #12,000
  • C. Jide #12,000 and credit purchases
  • D. Ibrahim #12,000 and sugar account #12,000
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Correct Answer: Option A
Explanation

Debit purchase account with 12,000 and credit cash paid to ibrahim 12,000

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts