Post Utme Lead City University 2023 Accounting Question 25

Practice objective / multiple choice question 25 from the 2023 Post Utme Lead City University Accounting examination.

Post Utme Lead City University 2023 Accounting Objective / Multiple Choice
Question 25 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's trial balance shows an error of ₦15,000 in the credit side of the accounts receivable account. The error was caused by a clerk who forgot to record a payment of ₦15,000 received from a customer. What is the correct journal entry to rectify this error?

Answer Options

A. Debit Accounts Receivable ₦15,000, Credit Cash ₦15,000
Correct Answer B. Debit Cash ₦15,000, Credit Accounts Receivable ₦15,000
C. Debit Accounts Receivable ₦15,000, Credit Bank ₦15,000
D. Debit Bank ₦15,000, Credit Accounts Receivable ₦15,000
Correct Answer
B
Correct Option:
Debit Cash ₦15,000, Credit Accounts Receivable ₦15,000

About This Question

This is Post Utme Lead City University 2023 Accounting Question 25. It is one of the objective questions from the 2023 Post Utme Lead City University Accounting examination.

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