Post Utme Futa 2021 Accounting Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Futa Accounting examination.

Post Utme Futa 2021 Accounting Objective / Multiple Choice
Question 21 POST_UTME_FUTA • 2021 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦25,000 in the account 'Rent Paid' and a credit balance of ₦30,000 in the account 'Rent Received'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. ₦5,000 debit to Rent Paid and ₦5,000 credit to Rent Received
B. ₦10,000 debit to Rent Paid and ₦10,000 credit to Rent Received
Correct Answer C. ₦25,000 debit to Rent Paid and ₦30,000 credit to Rent Received
D. ₦30,000 debit to Rent Paid and ₦25,000 credit to Rent Received
Correct Answer
C
Correct Option:
₦25,000 debit to Rent Paid and ₦30,000 credit to Rent Received

About This Question

This is Post Utme Futa 2021 Accounting Question 21. It is one of the objective questions from the 2021 Post Utme Futa Accounting examination.

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