Post Utme Unilorin 2024 Accounting Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 38 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A company's ledger shows a balance of ₦30,000 in the accounts receivable account. However, the trial balance shows a credit balance of ₦25,000 in the accounts receivable account. What is the correct journal entry to correct this error?

Answer Options

Correct Answer A. ₦5,000 debit to accounts receivable and ₦5,000 credit to sales
B. ₦5,000 credit to accounts receivable and ₦5,000 debit to sales
C. ₦5,000 debit to sales and ₦5,000 credit to accounts receivable
D. ₦5,000 credit to sales and ₦5,000 debit to accounts receivable
Correct Answer
A
Correct Option:
₦5,000 debit to accounts receivable and ₦5,000 credit to sales

About This Question

This is Post Utme Unilorin 2024 Accounting Question 38. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

View More Post Utme Unilorin 2024 Accounting Questions More Post Utme Unilorin Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support