Concept:Rent paid is an expense, and expenses are recorded by debiting the expense account.
Explanation:Mr. Roi paid rent of ₦
50,000 by cheque on 1st July 2017.
This transaction has two effects under the double-entry principle.
First, rent increases the expenses of the business, so the Rent account is debited.
Second, the payment is made by cheque, which reduces the money in the bank, so the Bank account is credited.
Answer:Dr Rent A/c; Cr Bank A/c — Option C.