Post Utme Noun 2025 Accounting Question 17

Practice objective / multiple choice question 17 from the 2025 Post Utme Noun Accounting examination.

Post Utme Noun 2025 Accounting Objective / Multiple Choice
Question 17 POST_UTME_NOUN • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦100,000 in the account 'Rent Expense' and a credit balance of ₦50,000 in the account 'Rent Received'. What is the correct journal entry to record the transfer of ₦50,000 from 'Rent Expense' to 'Rent Received'?

Answer Options

Correct Answer A. Debit Rent Expense ₦50,000, Credit Rent Received ₦50,000
B. Debit Rent Received ₦50,000, Credit Rent Expense ₦50,000
C. Debit Rent Expense ₦50,000, Credit Rent Received ₦20,000
D. Debit Rent Received ₦50,000, Credit Rent Expense ₦20,000
Correct Answer
A
Correct Option:
Debit Rent Expense ₦50,000, Credit Rent Received ₦50,000

About This Question

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

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