Post Utme Delsu 2022 Accounting Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Delsu Accounting examination.

Post Utme Delsu 2022 Accounting Objective / Multiple Choice
Question 26 POST_UTME_DELSU • 2022 • ACCOUNTING • objective

A company uses the single-entry system of accounting. The company's cash account shows a balance of ₦120,000. The company's bank statement shows a balance of ₦110,000. The bank charges a service fee of ₦1,500. What is the correct journal entry to record the bank service fee?

Answer Options

Correct Answer A. ₦1,500 Debit: Bank Charges, ₦1,500 Credit: Cash
B. ₦1,500 Debit: Cash, ₦1,500 Credit: Bank Charges
C. ₦1,500 Debit: Bank Charges, ₦1,500 Debit: Cash
D. ₦1,500 Credit: Bank Charges, ₦1,500 Debit: Cash
Correct Answer
A
Correct Option:
₦1,500 Debit: Bank Charges, ₦1,500 Credit: Cash

About This Question

This is Post Utme Delsu 2022 Accounting Question 26. It is one of the objective questions from the 2022 Post Utme Delsu Accounting examination.

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