Post Utme Greenfield University 2020 Accounting Question 1

Practice objective / multiple choice question 1 from the 2020 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2020 Accounting Objective / Multiple Choice
Question 1 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has a trial balance that 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 correct this discrepancy?

Answer Options

Correct Answer A. ₦1,500 debit to Rent Paid and ₦1,200 credit to Rent Received
B. ₦1,500 credit to Rent Paid and ₦1,200 debit to Rent Received
C. ₦1,700 debit to Rent Paid and ₦1,200 credit to Rent Received
D. ₦1,200 debit to Rent Paid and ₦1,500 credit to Rent Received
Correct Answer
A
Correct Option:
₦1,500 debit to Rent Paid and ₦1,200 credit to Rent Received

About This Question

This is Post Utme Greenfield University 2020 Accounting Question 1. It is one of the objective questions from the 2020 Post Utme Greenfield University Accounting examination.

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