Post Utme Babcock University 2020 Accounting Question 26

Practice objective / multiple choice question 26 from the 2020 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2020 Accounting Objective / Multiple Choice
Question 26 POST_UTME_BABCOCK_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦50,000 in the 'Rent Received' account. What is the correct journal entry to record this transaction?

Answer Options

A. Debit Rent Received ₦50,000, Credit Cash ₦50,000
B. Debit Rent Received ₦50,000, Credit Bank ₦50,000
Correct Answer C. Debit Cash ₦50,000, Credit Rent Received ₦50,000
D. Debit Bank ₦50,000, Credit Rent Received ₦50,000
Correct Answer
C
Correct Option:
Debit Cash ₦50,000, Credit Rent Received ₦50,000

About This Question

This is Post Utme Babcock University 2020 Accounting Question 26. It is one of the objective questions from the 2020 Post Utme Babcock University Accounting examination.

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