Ibrahim, a micro business operator, sold 10 bags of sugar to Jide at a total cost of #12,000.
In the book of Ibrahim, the entry to record the transaction would be to debit
Sugar account #12,000 and credit Jide #12,000
Jide #12,000 and credit sales account #12,000
Ibrahim #12,000 and credit Jide #12,000
Sugar account #12,000 and credit Ibrahim #12,000
Correct answer is B
Debit cash paid by Jide to the sum of 12,000 and credit stock or sales account