Post Utme Unn 2023 Accounting Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Unn Accounting examination.

Post Utme Unn 2023 Accounting Objective / Multiple Choice
Question 39 POST_UTME_UNN • 2023 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦15,000 in the account 'Rent Received'. What is the correct journal entry to record the transfer of this amount to the 'Rent Income' account?

Answer Options

Correct Answer A. Debit Rent Received ₦15,000, Credit Rent Income ₦15,000
B. Debit Rent Income ₦15,000, Credit Rent Received ₦15,000
C. Debit Rent Received ₦15,000, Credit Cash ₦15,000
D. Debit Rent Income ₦15,000, Credit Cash ₦15,000
Correct Answer
A
Correct Option:
Debit Rent Received ₦15,000, Credit Rent Income ₦15,000

About This Question

This is Post Utme Unn 2023 Accounting Question 39. It is one of the objective questions from the 2023 Post Utme Unn Accounting examination.

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