Post Utme Futa 2022 Accounting Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Futa Accounting examination.

Post Utme Futa 2022 Accounting Objective / Multiple Choice

Question 22 POST_UTME_FUTA • 2022 • ACCOUNTING • objective

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

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

Correct Option:

Debit: ₦20,000; Credit: ₦0

This is Post Utme Futa 2022 Accounting Question 22. It is one of the objective questions from the 2022 Post Utme Futa Accounting examination.

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