Post Utme Ui 2021 Accounting Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Ui Accounting examination.

Post Utme Ui 2021 Accounting Objective / Multiple Choice
Question 31 POST_UTME_UI • 2021 • ACCOUNTING • objective

A company's accounting records show the following transactions for the year: | Date | Description | Debit | Credit | | --- | --- | --- | --- | | Jan 1 | Cash | ₦10,000 | | | Jan 15 | Rent Received | | ₦5,000 | | Feb 1 | Rent Paid | | ₦3,000 | | Mar 1 | Cash | ₦8,000 | | What is the correct journal entry to record the transactions?

Answer Options

Correct Answer A. ₦10,000 debit to Cash and ₦5,000 credit to Rent Received
B. ₦8,000 debit to Cash and ₦3,000 credit to Rent Paid
C. ₦5,000 debit to Rent Received and ₦3,000 credit to Rent Paid
D. ₦10,000 debit to Cash and ₦8,000 credit to Rent Paid
Correct Answer
A
Correct Option:
₦10,000 debit to Cash and ₦5,000 credit to Rent Received

About This Question

This is Post Utme Ui 2021 Accounting Question 31. It is one of the objective questions from the 2021 Post Utme Ui Accounting examination.

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