Post Utme Aaua 2021 Accounting Question 28

Practice objective / multiple choice question 28 from the 2021 Post Utme Aaua Accounting examination.

Post Utme Aaua 2021 Accounting Objective / Multiple Choice
Question 28 POST_UTME_AAUA • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' and a credit balance of ₦20,000 in the account 'Rent Paid'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. Debit Rent Paid by ₦5,000 and Credit Rent Received by ₦5,000
Correct Answer B. Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦5,000
C. Debit Rent Received by ₦20,000 and Credit Rent Paid by ₦20,000
D. Debit Rent Paid by ₦20,000 and Credit Rent Received by ₦20,000
Correct Answer
B
Correct Option:
Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦5,000

About This Question

This is Post Utme Aaua 2021 Accounting Question 28. It is one of the objective questions from the 2021 Post Utme Aaua Accounting examination.

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