Post Utme Bells University 2019 Accounting Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Bells University Accounting examination.

Post Utme Bells University 2019 Accounting Objective / Multiple Choice
Question 24 POST_UTME_BELLS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company has a control account for its accounts payable. The control account shows a balance of ₦100,000 while the ledger account for accounts payable shows a balance of ₦120,000. What is the correct journal entry to rectify this error?

Answer Options

A. ₦20,000 debit to Accounts Payable and ₦20,000 credit to Cash
Correct Answer B. ₦20,000 credit to Accounts Payable and ₦20,000 debit to Cash
C. ₦20,000 debit to Accounts Payable and ₦20,000 debit to Cash
D. ₦20,000 credit to Accounts Payable and ₦20,000 credit to Cash
Correct Answer
B
Correct Option:
₦20,000 credit to Accounts Payable and ₦20,000 debit to Cash

About This Question

This is Post Utme Bells University 2019 Accounting Question 24. It is one of the objective questions from the 2019 Post Utme Bells University Accounting examination.

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