Post Utme Babcock University 2018 Accounting Question 16

Practice objective / multiple choice question 16 from the 2018 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2018 Accounting Objective / Multiple Choice
Question 16 POST_UTME_BABCOCK_UNIVERSITY • 2018 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the accounts receivable account. However, the company's balance sheet shows a credit balance of ₦20,000 in the same account. What is the correct journal entry to rectify this discrepancy?

Answer Options

A. ₦15,000 debit to accounts receivable and ₦20,000 credit to accounts receivable
Correct Answer B. ₦15,000 credit to accounts receivable and ₦20,000 debit to accounts receivable
C. ₦35,000 debit to accounts receivable
D. ₦35,000 credit to accounts receivable
Correct Answer
B
Correct Option:
₦15,000 credit to accounts receivable and ₦20,000 debit to accounts receivable

About This Question

This is Post Utme Babcock University 2018 Accounting Question 16. It is one of the objective questions from the 2018 Post Utme Babcock University Accounting examination.

View More Post Utme Babcock University 2018 Accounting Questions More Post Utme Babcock University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support