Post Utme Bowen University 2023 Accounting Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Bowen University Accounting examination.

Post Utme Bowen University 2023 Accounting Objective / Multiple Choice
Question 1 POST_UTME_BOWEN_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's cash book shows a balance of ₦150,000. The bank statement shows a balance of ₦120,000. The difference is due to a dishonored cheque of ₦20,000. What is the correct journal entry to record the dishonored cheque?

Answer Options

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

About This Question

This is Post Utme Bowen University 2023 Accounting Question 1. It is one of the objective questions from the 2023 Post Utme Bowen University Accounting examination.

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