Post Utme Unilorin 2024 Accounting Question 36

Practice objective / multiple choice question 36 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 36 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the accounts payable account. However, the company's ledger shows a credit balance of ₦10,000 in the accounts payable account. What is the correct journal entry to correct this error?

Answer Options

A. ₦15,000 debit to accounts payable and ₦10,000 credit to accounts payable
Correct Answer B. ₦15,000 credit to accounts payable and ₦10,000 debit to accounts payable
C. ₦5,000 debit to accounts payable and ₦5,000 credit to accounts payable
D. ₦10,000 debit to accounts payable and ₦15,000 credit to accounts payable
Correct Answer
B
Correct Option:
₦15,000 credit to accounts payable and ₦10,000 debit to accounts payable

About This Question

This is Post Utme Unilorin 2024 Accounting Question 36. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

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