WAEC Accounting 2024 Theory — Question 1
Question 1 of 12 from the West African Examinations Council (WAEC) Accounting 2024 Theory paper, with the correct answer and a full explanation.
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1. Identify the book of original entry in which each of the following transactions will be recorded: (i) purchase of office equipment on credit; (ii) credit purchases; (iii) bank charges; (iv) goods returned by a customer.
Model answer
(i) Purchase of office equipment on credit — General Journal. (ii) Credit purchases — Purchases Day Book. (iii) Bank charges — Cash Book. (iv) Goods returned by a customer — Sales (Returns) Day Book.
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