Question on: JAMB Accounting - 2022
A rent of ₦50,000 was paid by samson to his landlady by cheque. The double entry in Samson's book is
A
Debit rent account, Credit bank account
B
Debit Rent account, Credit Samson's account
C
Debit Bank account, Credit Rent account
D
Debit Samson's account, Credit Rent account
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Correct Option: C
Here's the breakdown of the double-entry bookkeeping for the rent payment:
* **Debit Rent Account:** Rent is an expense. Expenses increase with a debit entry.
* **Credit Bank Account:** Since the payment was made by cheque, the cash in the bank (an asset) decreases. Assets decrease with a credit entry.
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