Show how the following transaction will be recorded applying the double-entry principle: Rent #50,000 was
FINANCIAL
JAMB 2019
Show how the following transaction will be recorded applying the double-entry principle: Rent #50,000 was paid by Mr. Roi to his landlord on 1st July 2017 by cheque.
- A. Dr Rent A/c; Dr Bank A/c
- B. Dr Bank A/c; Cr Rent A/c
- C. Dr Rent A/c; Cr Bank A/c
- D. Dr Rent A/c; Cr Mr. Roi
Correct Answer: C. Dr Rent A/c; Cr Bank A/c
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