Post Utme Eksu 2018 Accounting Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Eksu Accounting examination.

Post Utme Eksu 2018 Accounting Objective / Multiple Choice
Question 2 POST_UTME_EKSU • 2018 • ACCOUNTING • objective

A company has the following trial balance: Debit 100,000; Credit 120,000. What is the correct journal entry to rectify the error?

Answer Options

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

About This Question

This is Post Utme Eksu 2018 Accounting Question 2. It is one of the objective questions from the 2018 Post Utme Eksu Accounting examination.

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