Post Utme Uniport 2017 Accounting Question 14

Practice objective / multiple choice question 14 from the 2017 Post Utme Uniport Accounting examination.

Post Utme Uniport 2017 Accounting Objective / Multiple Choice
Question 14 POST_UTME_UNIPORT • 2017 • ACCOUNTING • objective

A company's cash book shows a balance of ₦120,000. However, the bank statement shows a balance of ₦150,000. The difference of ₦30,000 is due to a dishonored cheque of ₦20,000 and an NSF cheque of ₦10,000. What is the correct journal entry to record the dishonored cheque?

Answer Options

Correct Answer A. Debit Dishonored Cheque ₹20,000, Credit Cash ₹20,000
B. Debit NSF Cheque ₹10,000, Debit Dishonored Cheque ₹20,000, Credit Cash ₹30,000
C. Debit NSF Cheque ₹10,000, Credit Dishonored Cheque ₹20,000, Credit Cash ₹30,000
D. Debit NSF Cheque ₹10,000, Credit NSF Cheque ₹10,000, Credit Cash ₹20,000
Correct Answer
A
Correct Option:
Debit Dishonored Cheque ₹20,000, Credit Cash ₹20,000

About This Question

This is Post Utme Uniport 2017 Accounting Question 14. It is one of the objective questions from the 2017 Post Utme Uniport Accounting examination.

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