Post Utme Lasu 2019 Accounting Question 5

Practice objective / multiple choice question 5 from the 2019 Post Utme Lasu Accounting examination.

Post Utme Lasu 2019 Accounting Objective / Multiple Choice
Question 5 POST_UTME_LASU • 2019 • ACCOUNTING • objective

A company's trial balance shows an error of ₦10,000 due to an incorrect posting of an account payable to an account receivable. The error was discovered during the preparation of the financial statements. Prepare the necessary journal entry to correct the error.

Answer Options

A. Debit Cash ₦10,000, Credit Accounts Payable ₦10,000
B. Debit Accounts Receivable ₦10,000, Credit Cash ₦10,000
Correct Answer C. Debit Accounts Payable ₦10,000, Credit Accounts Receivable ₦10,000
D. Debit Cash ₦10,000, Credit Accounts Receivable ₦10,000
Correct Answer
C
Correct Option:
Debit Accounts Payable ₦10,000, Credit Accounts Receivable ₦10,000

About This Question

This is Post Utme Lasu 2019 Accounting Question 5. It is one of the objective questions from the 2019 Post Utme Lasu Accounting examination.

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