O-LevelAccountingAccounting procedures7707/13 · Oct/Nov 2020 · Q151 Mark

Hayley's financial year ends on 30 September 2020. She provided the following information. $ on 1 October 2019 rent receivable accrued 480 during the year ended 30 September 2020 rent received 6800 On 30 September 2020 rent received in advance 720 Which journal entry would be made on 30 September 2020?

Adebit income statement $5600, credit rent receivable $5600

Bdebit income statement $6560, credit rent receivable $6560

Cdebit rent receivable $5600, credit income statement $5600

Ddebit rent receivable $6560, credit income statement $6560

✓ Correct answer

C: debit rent receivable $5600, credit income statement $5600

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2020 Paper 1 Variant 3, question 15.

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