Post Utme Ims U 2025 Accounting Question 10

Practice objective / multiple choice question 10 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 10 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance in the Cash account of ₦50,000 and a credit balance in the Accounts Payable account of ₦75,000. What is the correct journal entry to record the transfer of the debit balance from the Cash account to the Accounts Payable account?

Answer Options

A. Debit Cash ₦50,000, Credit Accounts Payable ₦50,000
B. Debit Accounts Payable ₦75,000, Credit Cash ₦75,000
C. Debit Cash ₦75,000, Credit Accounts Payable ₦75,000
Correct Answer D. Debit Accounts Payable ₦50,000, Credit Cash ₦50,000
Correct Answer
D
Correct Option:
Debit Accounts Payable ₦50,000, Credit Cash ₦50,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 10. It is one of the objective questions from the 2025 Post Utme Ims U Accounting examination.

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