Post Utme Redeemers University 2019 Accounting Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2019 Accounting Objective / Multiple Choice

Question 7 POST_UTME_REDEEMERS_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's trial balance as at 31st December 2022 is as follows: Debit: ₦100,000, Credit: ₦120,000. What is the correct journal entry to rectify the discrepancy?

Answer Options

Correct Answer A. ₦20,000 debit, ₦20,000 credit

B. ₦20,000 credit, ₦20,000 debit

C. ₦10,000 debit, ₦10,000 credit

D. ₦10,000 credit, ₦10,000 debit

Correct Answer

Correct Option:

₦20,000 debit, ₦20,000 credit

About This Question

This is Post Utme Redeemers University 2019 Accounting Question 7. It is one of the objective questions from the 2019 Post Utme Redeemers University Accounting examination.

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