JAMB Accounting 2013 Objective — Question 14
Question 14 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2013 Objective paper, with the correct answer and a full explanation.
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The purchase of mattresses from Freehold Enterprises by cheque amounted to ₦305,150. The correct entries for this transaction in the book of the buyer is to debit
- A. sales account and credit bank account
- B. purchases account and credit bank accountCorrect
- C. cash and credit freehold
- D. bank and credit freehold
Explanation
Dr: Purchases A/c; Cr: Cash/Bank A/c.
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