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O-LevelAccountingSources and recording of data7707/11 · May/June 2014 · Q81 Mark

Melissa transferred $5000 from the bank deposit account to the bank current account on 1 May. On the same day she received a bank loan, $10000, which she paid into the bank current account. How will Melissa record these transactions?

Abank loan account: credit (✓), bank deposit account: debit (✓), bank current account: debit (✓)
Bbank loan account: debit (✓), bank deposit account: debit (✓), bank current account: debit (✓)
Cbank loan account: credit (✓), bank deposit account: debit (✓), bank current account: credit (✓)
Dbank loan account: credit (✓), bank deposit account: credit (✓), bank current account: debit (✓)

✓ Correct answer

D: bank loan account: credit (✓), bank deposit account: credit (✓), bank current account: debit (✓)

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About this question

Topic
Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2014 Paper 1 Variant 1, question 8.

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