O-LevelAccountingSources and recording of data7707/13 · Oct/Nov 2021 · Q81 Mark

Jane purchased goods and paid by credit transfer. How should this be recorded in Jane's accounting records?

Aaccount to be debited: bank, account to be credited: purchases

Baccount to be debited: purchases, account to be credited: bank

Caccount to be debited: purchases, account to be credited: trade payable

Daccount to be debited: trade payable, account to be credited: purchases

✓ Correct answer

B: account to be debited: purchases, account to be credited: bank

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 3, question 8.

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