Post Utme Futa 2025 Accounting Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Futa Accounting examination.

Post Utme Futa 2025 Accounting Objective / Multiple Choice
Question 1 POST_UTME_FUTA • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the 'Rent Expense' account. However, the company's accounting records indicate that it has paid ₦20,000 in rent for the year. What is the correct journal entry to record the payment?

Answer Options

A. Debit Rent Expense ₦5,000, Credit Cash ₦5,000
B. Debit Rent Expense ₦20,000, Credit Cash ₦20,000
C. Debit Rent Expense ₦15,000, Credit Cash ₦15,000
Correct Answer D. Debit Rent Expense ₦5,000, Credit Cash ₦20,000
Correct Answer
D
Correct Option:
Debit Rent Expense ₦5,000, Credit Cash ₦20,000

About This Question

This is Post Utme Futa 2025 Accounting Question 1. It is one of the objective questions from the 2025 Post Utme Futa Accounting examination.

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