Post Utme Bsu 2019 Accounting Question 15

Practice objective / multiple choice question 15 from the 2019 Post Utme Bsu Accounting examination.

Post Utme Bsu 2019 Accounting Objective / Multiple Choice
Question 15 POST_UTME_BSU • 2019 • ACCOUNTING • objective

A company's trial balance showed an error of ₦500 in the credit side of the accounts receivable account. The correct balance of the accounts receivable account is ₦20,000. Prepare the necessary journal entry to rectify the error.

Answer Options

Correct Answer A. Debit Accounts Receivable ₦500, Credit Profit and Loss Account ₦500
B. Debit Profit and Loss Account ₦500, Credit Accounts Receivable ₦500
C. Debit Bank ₦500, Credit Accounts Receivable ₦500
D. Credit Accounts Receivable ₦500, Debit Bank ₦500
Correct Answer
A
Correct Option:
Debit Accounts Receivable ₦500, Credit Profit and Loss Account ₦500

About This Question

This is Post Utme Bsu 2019 Accounting Question 15. It is one of the objective questions from the 2019 Post Utme Bsu Accounting examination.

View More Post Utme Bsu 2019 Accounting Questions More Post Utme Bsu 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