Post Utme Babcock University 2021 Accounting Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Babcock University Accounting examination.

Post Utme Babcock University 2021 Accounting Objective / Multiple Choice
Question 36 POST_UTME_BABCOCK_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦20,000 in the 'Rent Expense' account. However, the company's accounting records indicate that it has paid ₦15,000 in rent for the year. What is the correct journal entry to record the payment?

Answer Options

A. Debit Rent Expense ₦20,000, Credit Cash ₦15,000
Correct Answer B. Debit Rent Expense ₦15,000, Credit Cash ₦20,000
C. Debit Rent Expense ₦20,000, Credit Cash ₦20,000
D. Debit Cash ₦15,000, Credit Rent Expense ₦20,000
Correct Answer
B
Correct Option:
Debit Rent Expense ₦15,000, Credit Cash ₦20,000

About This Question

This is Post Utme Babcock University 2021 Accounting Question 36. It is one of the objective questions from the 2021 Post Utme Babcock University Accounting examination.

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