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JAMB Accounting 2013 Objective — Question 5

Question 5 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2013 Objective paper, with the correct answer and a full explanation.

(Using the same information as Q4) The double entry for July 31 would be

A. debit Agromachinex and credit cashCorrect
B. debit equipment and credit Agromachinex
C. credit capital and debit cash
D. credit cash and debit purchases

Explanation

Dr: Creditors A/c (Agromachinex); Cr: Cash A/c.

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