In the books of a trader, discounts received of $1400 have been posted correctly in the suppliers' accounts but debited in the discounts allowed account. What are the correcting entries?
✓ Correct Answer
The correct answer is A: suspense $2800; discounts allowed $1400, discounts received $1400
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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