Accounting WAEC

A cheque for N400 drawn in favour of Jeje was posted to the credit of his account. The entry necessary to correct the error is?

A. a debit suspense account N800,credit Jeje’s account N800
B. debit bank to correct N400, credit Jeje’s account N400
C. debit suspense account N400, credit Jeje’s account N400
D. debit Jeje’s account N800, credit suspense account N800
E. debit Jeje’s account N400, credit suspense account N400

Correct Answer:

Option D – debit Jeje’s account N800, credit suspense account N800

Sunday

Recent Posts

OOU JUPEB Admission For Agricultural Extension

Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Agricultural Economics

Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Cooperative and Business Management

Do you want to study Cooperative and Business Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Home and Hotel Management

Do you want to study Home and Hotel Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Animal Production

Do you want to study Animal Production in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Crop Production

Do you want to study Crop Production in OOU? Before you apply for the OOU…

11 months ago