Post Utme Unn 2024 Accounting Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Unn Accounting examination.

Post Utme Unn 2024 Accounting Objective / Multiple Choice
Question 21 POST_UTME_UNN • 2024 • ACCOUNTING • objective

A company's trial balance shows a debit balance of ₦5,000 in the account 'Rent Received' and a credit balance of ₦10,000 in the account 'Rent Paid'. What is the correct journal entry to correct this discrepancy?

Answer Options

A. Debit Rent Paid by ₦5,000 and Credit Rent Received by ₦5,000
B. Debit Rent Paid by ₦10,000 and Credit Rent Received by ₦10,000
C. Debit Rent Paid by ₦5,000 and Credit Rent Received by ₦10,000
Correct Answer D. Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦10,000
Correct Answer
D
Correct Option:
Debit Rent Received by ₦5,000 and Credit Rent Paid by ₦10,000

About This Question

This is Post Utme Unn 2024 Accounting Question 21. It is one of the objective questions from the 2024 Post Utme Unn Accounting examination.

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