Post Utme Esut 2021 Accounting Question 36

Practice objective / multiple choice question 36 from the 2021 Post Utme Esut Accounting examination.

Post Utme Esut 2021 Accounting Objective / Multiple Choice
Question 36 POST_UTME_ESUT • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received'. However, the company's accounting records show that the rent was actually paid to the landlord. What is the correct journal entry to correct this error?

Answer Options

A. Debit Rent Received ₦15,000, Credit Rent Paid ₦15,000
Correct Answer B. Debit Rent Paid ₦15,000, Credit Rent Received ₦15,000
C. Debit Rent Received ₦15,000, Credit Rent Expense ₦15,000
D. Debit Rent Expense ₦15,000, Credit Rent Received ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Paid ₦15,000, Credit Rent Received ₦15,000

About This Question

This is Post Utme Esut 2021 Accounting Question 36. It is one of the objective questions from the 2021 Post Utme Esut Accounting examination.

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