Post Utme Afe Babalola University 2022 Accounting Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Afe Babalola University Accounting examination.

Post Utme Afe Babalola University 2022 Accounting Objective / Multiple Choice
Question 27 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed a debit balance of ₦ 50,000 in the account 'Bad Debts'. The company's accountant decided to write off ₦ 20,000 of this amount. Prepare the necessary journal entry.

Answer Options

Correct Answer A. Debit Bad Debts ₦ 20,000, Credit Profit and Loss ₦ 20,000
B. Debit Profit and Loss ₦ 20,000, Credit Bad Debts ₦ 20,000
C. Debit Bad Debts ₦ 30,000, Credit Profit and Loss ₦ 30,000
D. Debit Profit and Loss ₦ 30,000, Credit Bad Debts ₦ 30,000
Correct Answer
A
Correct Option:
Debit Bad Debts ₦ 20,000, Credit Profit and Loss ₦ 20,000

About This Question

This is Post Utme Afe Babalola University 2022 Accounting Question 27. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Accounting examination.

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