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JAMB Principles of Accounts 2025 past questions and answers

1 questions. Try each one, then open the answer to check yourself and read the explanation.

Question 29

Double Entry and the Ledger

Musa, a prepaid customer of XYZ and KLM, bought ₦1500 recharge card from XYZ and ₦2000 recharge card from KLM for business calls. The entry to record these transaction is debit

  1. A.telephone ₦3,500, credit XYZ and KLM ₦3,500
  2. B.telephone ₦3,500, credit cash ₦3,500
  3. C.sundries ₦3,500, credit KLM ₦3,500
  4. D.sundries ₦3,500; credit telephone ₦3,500
Show the answer and explanation

Answer: B (telephone ₦3,500, credit cash ₦3,500)

Explanation

Prepaid cards are paid for at once: telephone expense is debited ₦3,500 and cash is credited ₦3,500.

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