Post Utme Mountain Top University 2025 Accounting Question 2

Practice objective / multiple choice question 2 from the 2025 Post Utme Mountain Top University Accounting examination.

Post Utme Mountain Top University 2025 Accounting Objective / Multiple Choice
Question 2 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received' and a credit balance of ₦20,000 in the account 'Rent Paid'. What is the correct journal entry to eliminate this discrepancy?

Answer Options

A. Debit Rent Paid ₦5,000, Credit Rent Received ₦5,000
Correct Answer B. Debit Rent Received ₦5,000, Credit Rent Paid ₦5,000
C. Debit Rent Received ₦20,000, Credit Rent Paid ₦15,000
D. Debit Rent Paid ₦20,000, Credit Rent Received ₦15,000
Correct Answer
B
Correct Option:
Debit Rent Received ₦5,000, Credit Rent Paid ₦5,000

About This Question

This is Post Utme Mountain Top University 2025 Accounting Question 2. It is one of the objective questions from the 2025 Post Utme Mountain Top University Accounting examination.

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