Post Utme Redeemers University 2020 Accounting Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2020 Accounting Objective / Multiple Choice

Question 24 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company has a trial balance that shows a balance of ₦10,000 for the account 'Rent Received'. However, the company's accounting records show that the rent was actually received in cash. What is the correct treatment for this account?

Answer Options

Correct Answer A. Debit the 'Rent Received' account and credit the 'Cash' account

B. Credit the 'Rent Received' account and debit the 'Cash' account

C. Debit the 'Rent Received' account and credit the 'Accounts Receivable' account

D. Credit the 'Rent Received' account and debit the 'Accounts Payable' account

Correct Answer

Correct Option:

Debit the 'Rent Received' account and credit the 'Cash' account

About This Question

This is Post Utme Redeemers University 2020 Accounting Question 24. It is one of the objective questions from the 2020 Post Utme Redeemers University Accounting examination.

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