NECO Book Keeping 2015 Objective — Question 37
Question 37 of 40 from the National Examinations Council (NECO) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
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The ledger entries for the purchases day book are: debit
- A. Supplier's Account; credit Purchases Account
- B. Purchases Account; credit Customer's Account
- C. Purchases Account; credit Supplier's AccountCorrect
- D. Customer's Account; credit Purchases Account
Explanation
Credit purchases recorded in the purchases day book are posted by debiting the Purchases Account and crediting the Supplier's (creditor's) Account.
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