Post Utme Ksu 2017 Accounting Question 17

Practice objective / multiple choice question 17 from the 2017 Post Utme Ksu Accounting examination.

Post Utme Ksu 2017 Accounting Objective / Multiple Choice
Question 17 POST_UTME_KSU • 2017 • ACCOUNTING • objective

A company's trial balance showed a debit balance of ₦ 10,000 in the account 'Sales Returns'. The correct balance should be a credit balance of ₦ 5,000. What is the correct journal entry to correct this error?

Answer Options

A. Debit Sales Returns ₦ 10,000, Credit Sales ₦ 5,000
B. Debit Sales ₦ 5,000, Credit Sales Returns ₦ 10,000
Correct Answer C. Debit Sales Returns ₦ 5,000, Credit Sales ₦ 10,000
D. Debit Sales ₦ 10,000, Credit Sales Returns ₦ 5,000
Correct Answer
C
Correct Option:
Debit Sales Returns ₦ 5,000, Credit Sales ₦ 10,000

About This Question

This is Post Utme Ksu 2017 Accounting Question 17. It is one of the objective questions from the 2017 Post Utme Ksu Accounting examination.

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