Post Utme Bells University 2019 Accounting Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Bells University Accounting examination.

Post Utme Bells University 2019 Accounting Objective / Multiple Choice
Question 21 POST_UTME_BELLS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' while the corresponding credit balance in the 'Rent Paid' account is ₦20,000. What is the correct journal entry to rectify this error?

Answer Options

A. ₦15,000 debit to Rent Paid and ₦20,000 credit to Rent Received
Correct Answer B. ₦15,000 credit to Rent Paid and ₦20,000 debit to Rent Received
C. ₦15,000 debit to Rent Paid and ₦20,000 debit to Rent Received
D. ₦15,000 credit to Rent Paid and ₦20,000 credit to Rent Received
Correct Answer
B
Correct Option:
₦15,000 credit to Rent Paid and ₦20,000 debit to Rent Received

About This Question

This is Post Utme Bells University 2019 Accounting Question 21. It is one of the objective questions from the 2019 Post Utme Bells University Accounting examination.

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