Post Utme Futo 2024 Accounting Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Futo Accounting examination.

Post Utme Futo 2024 Accounting Objective / Multiple Choice
Question 26 POST_UTME_FUTO • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦1,500 in the account 'Rent Received' and a credit balance of ₦1,200 in the account 'Rent Paid'. What is the correct journal entry to rectify this discrepancy?

Answer Options

A. ₦300 debit to Rent Received and ₦300 credit to Rent Paid
Correct Answer B. ₦300 debit to Rent Paid and ₦300 credit to Rent Received
C. ₦1,200 debit to Rent Received and ₦1,200 credit to Rent Paid
D. ₦1,500 debit to Rent Paid and ₦1,500 credit to Rent Received
Correct Answer
B
Correct Option:
₦300 debit to Rent Paid and ₦300 credit to Rent Received

About This Question

This is Post Utme Futo 2024 Accounting Question 26. It is one of the objective questions from the 2024 Post Utme Futo Accounting examination.

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