Post Utme Greenfield University 2019 Accounting Question 36

Practice objective / multiple choice question 36 from the 2019 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2019 Accounting Objective / Multiple Choice
Question 36 POST_UTME_GREENFIELD_UNIVERSITY • 2019 • ACCOUNTING • objective

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

Answer Options

A. Debit Rent Received ₦5,000, Credit Rent Paid ₦5,000
Correct Answer B. Debit Rent Paid ₦5,000, Credit Rent Received ₦5,000
C. Debit Rent Received ₦20,000, Credit Rent Paid ₦20,000
D. Debit Rent Paid ₦20,000, Credit Rent Received ₦20,000
Correct Answer
B
Correct Option:
Debit Rent Paid ₦5,000, Credit Rent Received ₦5,000

About This Question

This is Post Utme Greenfield University 2019 Accounting Question 36. It is one of the objective questions from the 2019 Post Utme Greenfield University Accounting examination.

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