Post Utme Al Hikmah University 2024 Accounting Question 19

Practice objective / multiple choice question 19 from the 2024 Post Utme Al Hikmah University Accounting examination.

Post Utme Al Hikmah University 2024 Accounting Objective / Multiple Choice
Question 19 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a debit balance of ₦80,000. The company's bank statement shows a credit balance of ₦100,000. What is the correct journal entry to rectify the discrepancy?

Answer Options

A. Debit Cash A/c ₦20,000, Credit Bank A/c ₦20,000
Correct Answer B. Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000
C. Debit Cash A/c ₦20,000, Credit Bank A/c ₦20,000
D. Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000
Correct Answer
B
Correct Option:
Debit Bank A/c ₦20,000, Credit Cash A/c ₦20,000

About This Question

This is Post Utme Al Hikmah University 2024 Accounting Question 19. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Accounting examination.

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