Post Utme Redeemers University 2022 Accounting Question 15

Practice objective / multiple choice question 15 from the 2022 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2022 Accounting Objective / Multiple Choice
Question 15 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company's trial balance showed an error of ₦20,000 in the credit side of the purchases account. Prepare the necessary journal entry to rectify the error.

Answer Options

Correct Answer A. Debit Purchases Account ₦20,000, Credit Bank ₦20,000
B. Debit Purchases Account ₦20,000, Credit Cash ₦20,000
C. Debit Bank ₦20,000, Credit Purchases Account ₦20,000
D. Debit Purchases Account ₦20,000, Credit Purchases Returns Account ₦20,000
Correct Answer
A
Correct Option:
Debit Purchases Account ₦20,000, Credit Bank ₦20,000

About This Question

This is Post Utme Redeemers University 2022 Accounting Question 15. It is one of the objective questions from the 2022 Post Utme Redeemers University Accounting examination.

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