Post Utme Futa 2022 Accounting Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Futa Accounting examination.

Post Utme Futa 2022 Accounting Objective / Multiple Choice
Question 21 POST_UTME_FUTA • 2022 • ACCOUNTING • objective

A company has the following ledger balances: Debit: ₦100,000; Credit: ₦120,000. What is the correct journal entry to record the transaction?

Answer Options

Correct Answer A. Debit: ₦20,000; Credit: ₦0
B. Debit: ₦0; Credit: ₦20,000
C. Debit: ₦20,000; Credit: ₦20,000
D. Debit: ₦0; Credit: ₦0
Correct Answer
A
Correct Option:
Debit: ₦20,000; Credit: ₦0

About This Question

This is Post Utme Futa 2022 Accounting Question 21. It is one of the objective questions from the 2022 Post Utme Futa Accounting examination.

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