Post Utme Ims U 2025 Accounting Question 6

Practice objective / multiple choice question 6 from the 2025 Post Utme Ims U Accounting examination.

Post Utme Ims U 2025 Accounting Objective / Multiple Choice
Question 6 POST_UTME_IMS_U • 2025 • ACCOUNTING • objective

A company uses a self-balancing ledger to record its transactions. The ledger contains the following accounts: Cash, Accounts Payable, Accounts Receivable, and Common Stock. The company's trial balance shows a debit balance in the Cash account of ₦150,000 and a credit balance in the Accounts Payable account of ₦200,000. 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 ₦150,000, Credit Accounts Payable ₦150,000
Correct Answer B. Debit Accounts Payable ₦150,000, Credit Cash ₦150,000
C. Debit Cash ₦200,000, Credit Accounts Payable ₦200,000
D. Debit Accounts Payable ₦200,000, Credit Cash ₦200,000
Correct Answer
B
Correct Option:
Debit Accounts Payable ₦150,000, Credit Cash ₦150,000

About This Question

This is Post Utme Ims U 2025 Accounting Question 6. It is one of the objective questions from the 2025 Post Utme Ims U Accounting examination.

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