Post Utme Bowen University 2020 Accounting Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2020 Accounting Objective / Multiple Choice
Question 3 POST_UTME_BOWEN_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a discrepancy of ₦1,500 between the debit and credit balances. The company's accounting records show that a payment of ₦2,000 was made to a supplier, but the supplier's invoice was not recorded in the accounts. The company's cash account shows a balance of ₦8,000. What is the correct journal entry to rectify the discrepancy?

Answer Options

A. Debit Cash ₦2,000, Credit Accounts Payable ₦2,000
Correct Answer B. Debit Accounts Payable ₦2,000, Credit Cash ₦2,000
C. Debit Cash ₦1,500, Credit Accounts Payable ₦1,500
D. Debit Accounts Payable ₦1,500, Credit Cash ₦1,500
Correct Answer
B
Correct Option:
Debit Accounts Payable ₦2,000, Credit Cash ₦2,000

About This Question

This is Post Utme Bowen University 2020 Accounting Question 3. It is one of the objective questions from the 2020 Post Utme Bowen University Accounting examination.

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