Post Utme Veritas University 2023 Accounting Question 13

Practice objective / multiple choice question 13 from the 2023 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2023 Accounting Objective / Multiple Choice
Question 13 POST_UTME_VERITAS_UNIVERSITY • 2023 • ACCOUNTING • objective

A company's balance sheet shows a current asset of ₦50,000 in the 'Accounts Receivable' account. However, the company's accounting records show that the accounts receivable for the year was actually ₦60,000. What is the correct journal entry to record the correction?

Answer Options

Correct Answer A. Debit Accounts Receivable ₦10,000, Credit Cash ₦10,000
B. Debit Accounts Receivable ₦10,000, Credit Accounts Payable ₦10,000
C. Debit Accounts Receivable ₦10,000, Credit Cash ₦10,000
D. Debit Accounts Receivable ₦10,000, Credit Cash ₦10,000
Correct Answer
A
Correct Option:
Debit Accounts Receivable ₦10,000, Credit Cash ₦10,000

About This Question

This is Post Utme Veritas University 2023 Accounting Question 13. It is one of the objective questions from the 2023 Post Utme Veritas University Accounting examination.

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