Post Utme Mountain Top University 2025 Accounting Question 17

Practice objective / multiple choice question 17 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 17 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance showed the following balances: Accounts Payable ₦1,000,000, Sales Revenue ₦1,000,000. The company's accountant discovered that the Sales Revenue account was overstated by ₦0,500,000. Prepare the necessary journal entry to correct the error.

Answer Options

A. Debit Sales Revenue ₦0,500,000, Credit Accounts Payable ₦0,500,000
B. Debit Sales Revenue ₦0,500,000, Credit Cash ₦0,500,000
Correct Answer C. Debit Accounts Payable ₦0,500,000, Credit Sales Revenue ₦0,500,000
D. Debit Sales Revenue ₦0,500,000, Credit Retained Earnings ₦0,500,000
Correct Answer
C
Correct Option:
Debit Accounts Payable ₦0,500,000, Credit Sales Revenue ₦0,500,000

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 17. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

View More Post Utme Mountain Top University 2025 Accounting Questions More Post Utme Mountain Top University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support