Post Utme Noun 2023 Accounting Question 34

Practice objective / multiple choice question 34 from the 2023 Post Utme Noun Accounting examination.

Post Utme Noun 2023 Accounting Objective / Multiple Choice
Question 34 POST_UTME_NOUN • 2023 • ACCOUNTING • objective

A public sector organization has a cash book balance of ₦1,500,000 and a bank statement balance of ₦1,800,000. The bank statement includes a credit of ₦200,000 for a loan received from a government agency. What is the correct journal entry to reconcile the cash book and bank statement?

Answer Options

A. ₦1,500,000 debit to Cash and ₦200,000 credit to Bank
B. ₦1,800,000 debit to Bank and ₦200,000 credit to Cash
C. ₦1,500,000 debit to Bank and ₦200,000 credit to Cash
Correct Answer D. ₦1,800,000 debit to Cash and ₦200,000 credit to Bank
Correct Answer
D
Correct Option:
₦1,800,000 debit to Cash and ₦200,000 credit to Bank

About This Question

This is Post Utme Noun 2023 Accounting Question 34. It is one of the objective questions from the 2023 Post Utme Noun Accounting examination.

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