Post Utme Oau 2023 Accounting Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Oau Accounting examination.

Post Utme Oau 2023 Accounting Objective / Multiple Choice
Question 22 POST_UTME_OAU • 2023 • ACCOUNTING • objective

A company's trial balance showed a debit balance of ₦50,000 in the account 'Sales Returns'. The company's accounting policy requires that sales returns be treated as a deduction from sales revenue. What is the correct journal entry to correct the error?

Answer Options

A. Debit Sales Returns, Credit Sales
Correct Answer B. Debit Sales, Credit Sales Returns
C. Debit Sales, Credit Sales Returns and Profit
D. Debit Sales Returns, Credit Profit
Correct Answer
B
Correct Option:
Debit Sales, Credit Sales Returns

About This Question

This is Post Utme Oau 2023 Accounting Question 22. It is one of the objective questions from the 2023 Post Utme Oau Accounting examination.

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