Abu, a debtor to Dania, owed ₦10,500 at the start of the month. He paid cash of ₦40,005 during the month and received additional credit sales of ₦20,000. Using the information, In Dania’s books, to record the payment of ₦30,505 cr.40,005 by Abu

by | Jun 2 | Accounting WAEC | 0 comments

A. debit cash account, credit Abu’s account
B. debit Abu’s account, credit cash account
C. debit cash account, credit sales account
D. debit sales account, credit cash account,

Correct Answer: Option B

B. debit Abu’s account, credit cash account

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