Post Utme Summit University 2025 Accounting Question 17

Practice objective / multiple choice question 17 from the 2025 Post Utme Summit University Accounting examination.

Post Utme Summit University 2025 Accounting Objective / Multiple Choice

Question 17 POST_UTME_SUMMIT_UNIVERSITY • 2025 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦25,000 in the account 'Rent Paid' while the corresponding credit balance in the account 'Rent Received' is ₦30,000. What is the correct journal entry to rectify this error?

Answer Options

A. Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦5,000

B. Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦5,000 and also Debit Rent Paid by ₦25,000

C. Credit Rent Received by ₦5,000 and Debit Rent Paid by ₦5,000

D. Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦5,000 and also Credit Rent Received by ₦30,000

Correct Answer

N/A

About This Question

This is Post Utme Summit University 2025 Accounting Question 17. It is one of the objective questions from the 2025 Post Utme Summit University Accounting examination.

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