Post Utme Christopher University 2024 Accounting Question 40

Practice objective / multiple choice question 40 from the 2024 Post Utme Christopher University Accounting examination.

Post Utme Christopher University 2024 Accounting Objective / Multiple Choice
Question 40 POST_UTME_CHRISTOPHER_UNIVERSITY • 2024 • ACCOUNTING • objective

A company prepares a trial balance. The trial balance shows the following balances: Cash ₦100,000, Accounts Receivable ₦50,000. What is the correct journal entry to record the transaction: Debit Cash ₦20,000, Credit Accounts Receivable ₦20,000?

Answer Options

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

About This Question

This is Post Utme Christopher University 2024 Accounting Question 40. It is one of the objective questions from the 2024 Post Utme Christopher University Accounting examination.

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