Post Utme Bowen University 2019 Accounting Question 32

Practice objective / multiple choice question 32 from the 2019 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2019 Accounting Objective / Multiple Choice
Question 32 POST_UTME_BOWEN_UNIVERSITY • 2019 • ACCOUNTING • objective

A company uses the single entry system of accounting. The company's cash book shows a debit balance of ₦15,000. The company's bank statement shows a credit balance of ₦20,000. What is the correct journal entry to reconcile the two balances?

Answer Options

A. Debit Cash ₦15,000, Credit Bank ₦20,000
B. Debit Bank ₦20,000, Credit Cash ₦15,000
C. Debit Cash ₦20,000, Credit Bank ₦15,000
Correct Answer D. Debit Bank ₦15,000, Credit Cash ₦20,000
Correct Answer
D
Correct Option:
Debit Bank ₦15,000, Credit Cash ₦20,000

About This Question

This is Post Utme Bowen University 2019 Accounting Question 32. It is one of the objective questions from the 2019 Post Utme Bowen University Accounting examination.

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