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WAEC Financial Accounting 1997 Question 4

Question 4

Books of Original Entry

A Sales Day Book is used to record

  1. A.cash sales of stock
  2. B.credit sales of stock
  3. C.cash and credit sales of stock
  4. D.cash sales of fixed assets
  5. E.credit sales of fixed assets.
Show the answer and explanation

Answer: B (credit sales of stock)

Explanation

The sales day book lists credit sales of the goods the business trades in.