Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.

In the book of Ibrahim, the entry to record the transaction would be to debit

  • A sugar account #12,000 and credit Jide #12,000
  • B Jide #12,000 and credit sales account #12,000
  • C Ibrahim #12,000 and credit Jide #12,000
  • D sugar account #12,000 and credit Ibrahim #12,000
jamb 2012accounting

The correct answer is B. Jide #12,000 and credit sales account #12,000

Debit cash paid by Jide to the sum of 12,000 and credit stock or sales account

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