Post Utme Coal City University 2024 Accounting Question 17

Practice objective / multiple choice question 17 from the 2024 Post Utme Coal City University Accounting examination.

Post Utme Coal City University 2024 Accounting Objective / Multiple Choice
Question 17 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash book shows a balance of ₦50,000. However, the company's accountant has forgotten to record a cash receipt of ₦20,000. What is the correct adjustment to be made to the cash book?

Answer Options

Correct Answer A. ₦20,000 debit to 'Cash' and ₦20,000 credit to 'Sales'
B. ₦20,000 credit to 'Cash' and ₦20,000 debit to 'Sales'
C. ₦20,000 debit to 'Cash' and ₦20,000 credit to 'Office Expenses'
D. ₦20,000 credit to 'Cash' and ₦20,000 debit to 'Office Expenses'
Correct Answer
A
Correct Option:
₦20,000 debit to 'Cash' and ₦20,000 credit to 'Sales'

About This Question

This is Post Utme Coal City University 2024 Accounting Question 17. It is one of the objective questions from the 2024 Post Utme Coal City University Accounting examination.

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