Post Utme Redeemers University 2020 Accounting Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2020 Accounting Objective / Multiple Choice
Question 39 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦20,000 in the account 'Salaries Expense' and a credit balance of ₦15,000 in the account 'Salaries Payable'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. ₦5,000 debit to Salaries Expense and ₦5,000 credit to Salaries Payable
Correct Answer B. ₦5,000 debit to Salaries Payable and ₦5,000 credit to Salaries Expense
C. ₦10,000 debit to Salaries Expense and ₦10,000 credit to Salaries Payable
D. ₦10,000 debit to Salaries Payable and ₦10,000 credit to Salaries Expense
Correct Answer
B
Correct Option:
₦5,000 debit to Salaries Payable and ₦5,000 credit to Salaries Expense

About This Question

This is Post Utme Redeemers University 2020 Accounting Question 39. It is one of the objective questions from the 2020 Post Utme Redeemers University Accounting examination.

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