Post Utme Bells University 2022 Accounting Question 14

Practice objective / multiple choice question 14 from the 2022 Post Utme Bells University Accounting examination.

Post Utme Bells University 2022 Accounting Objective / Multiple Choice
Question 14 POST_UTME_BELLS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the cash book method of accounting. The following transactions are recorded in the cash book: Debit: 50,000, Credit: 30,000. What is the correct journal entry to rectify the discrepancy?

Answer Options

A. Debit: 20,000, Credit: 0
Correct Answer B. Debit: 0, Credit: 20,000
C. Debit: 20,000, Credit: 20,000
D. Debit: 0, Credit: 0
Correct Answer
B
Correct Option:
Debit: 0, Credit: 20,000

About This Question

This is Post Utme Bells University 2022 Accounting Question 14. It is one of the objective questions from the 2022 Post Utme Bells University Accounting examination.

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