Post Utme Bowen University 2017 Accounting Question 41

Practice objective / multiple choice question 41 from the 2017 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2017 Accounting Objective / Multiple Choice
Question 41 POST_UTME_BOWEN_UNIVERSITY • 2017 • ACCOUNTING • objective

A company's trial balance showed an error of ₦20,000 in the accounts receivable account. The correct balance should be ₦80,000. Prepare the necessary journal entry to correct the error.

Answer Options

Correct Answer A. Debit Accounts Receivable ₦20,000, Credit Cash ₦20,000
B. Debit Accounts Receivable ₦20,000, Credit Bank Loan ₦20,000
C. Debit Accounts Receivable ₦20,000, Credit Retained Earnings ₦20,000
D. Debit Accounts Receivable ₦20,000, Credit Dividends ₦20,000
Correct Answer
A
Correct Option:
Debit Accounts Receivable ₦20,000, Credit Cash ₦20,000

About This Question

This is Post Utme Bowen University 2017 Accounting Question 41. It is one of the objective questions from the 2017 Post Utme Bowen University Accounting examination.

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