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Goods bought on credit are first entered in the

Accounts - Principles of Accounts
JAMB 2024

Goods bought on credit are first entered in the

  • A. cash book
  • B. journal proper
  • C. sales day book
  • D. purchases day book
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Correct Answer: Option D
Explanation

The purchases day book is a subsidiary book specifically designed to record all credit purchases made by a company. It chronologically logs details like the date, supplier name, invoice number, description of goods, and amount of the purchase. This information is then summarized and posted to the purchases account in the genera ledger at the end of the accounting period.


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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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Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent