Post Utme Igbinedion University 2022 Accounting Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2022 Accounting Objective / Multiple Choice
Question 29 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 29. It is one of the objective questions from the 2022 Post Utme Igbinedion University Accounting examination.

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