Post Utme Christopher University 2019 Accounting Question 25

Practice objective / multiple choice question 25 from the 2019 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2019 Accounting Objective / Multiple Choice
Question 25 POST_UTME_CHRISTOPHER_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦1,500 in the account 'Rent Received' and a credit balance of ₦1,200 in the account 'Rent Paid'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. Debit Rent Paid by ₦300 and Credit Rent Received by ₦300
Correct Answer B. Debit Rent Received by ₦300 and Credit Rent Paid by ₦300
C. Debit Rent Paid by ₦1,500 and Credit Rent Received by ₦1,200
D. Debit Rent Received by ₦1,200 and Credit Rent Paid by ₦1,500
Correct Answer
B
Correct Option:
Debit Rent Received by ₦300 and Credit Rent Paid by ₦300

About This Question

This is Post Utme Christopher University 2019 Accounting Question 25. It is one of the objective questions from the 2019 Post Utme Christopher University Accounting examination.

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