Post Utme Igbinedion University 2022 Accounting Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 26 POST_UTME_IGBINEDION_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's cash book shows a balance of ₦150,000. However, the bank statement shows a balance of ₦120,000. The difference of ₦30,000 is due to a dishonored cheque. What is the correct journal entry to record the dishonored cheque?

Answer Options

Correct Answer A. Debit Cash ₦30,000, Credit Bank Overdraft ₦30,000
B. Debit Bank Overdraft ₦30,000, Credit Cash ₦30,000
C. Debit Cash ₦30,000, Credit Bad Debts ₦30,000
D. Debit Bank Overdraft ₦30,000, Credit Bad Debts ₦30,000
Correct Answer
A
Correct Option:
Debit Cash ₦30,000, Credit Bank Overdraft ₦30,000

About This Question

This is Post Utme Igbinedion University 2022 Accounting Question 26. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

View More Post Utme Igbinedion University 2022 Accounting Questions More Post Utme Igbinedion University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support