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WAEC Financial Accounting 1996 Question 7

Question 7

Books of Original Entry

Mr. B sold goods worth N200 on credit to Mr. C.
The credit sale should be entered into

  1. A.Sales Day Book
  2. B.Trading Account
  3. C.Profit and Loss Account
  4. D.Purchases Day Book
  5. E.Mr. B's Account
Show the answer and explanation

Answer: A (Sales Day Book)

Explanation

Credit sales are first recorded in the sales day book before posting to the ledger.