Post Utme Unilorin 2024 Accounting Question 39

Practice objective / multiple choice question 39 from the 2024 Post Utme Unilorin Accounting examination.

Post Utme Unilorin 2024 Accounting Objective / Multiple Choice
Question 39 POST_UTME_UNILORIN • 2024 • ACCOUNTING • objective

A company's ledger shows a balance of ₦40,000 in the accounts payable account. However, the trial balance shows a debit balance of ₦35,000 in the accounts payable account. What is the correct journal entry to correct this error?

Answer Options

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

About This Question

This is Post Utme Unilorin 2024 Accounting Question 39. It is one of the objective questions from the 2024 Post Utme Unilorin Accounting examination.

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