Post Utme Bells University 2025 Accounting Question 16

Practice objective / multiple choice question 16 from the 2025 Post Utme Bells University Accounting examination.

Post Utme Bells University 2025 Accounting Objective / Multiple Choice
Question 16 POST_UTME_BELLS_UNIVERSITY • 2025 • 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
Correct Answer B. Debit Cash ₦50,000, Credit Rent Received ₦50,000
C. Debit Rent Received ₦50,000, Credit Rent Paid ₦50,000
D. Debit Rent Paid ₦50,000, Credit Rent Received ₦50,000
Correct Answer
B
Correct Option:
Debit Cash ₦50,000, Credit Rent Received ₦50,000

About This Question

This is Post Utme Bells University 2025 Accounting Question 16. It is one of the objective questions from the 2025 Post Utme Bells University Accounting examination.

View More Post Utme Bells University 2025 Accounting Questions More Post Utme Bells University Practice Questions Back to Questions

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