A-LevelAccountingReconciliation and verification9706/12 · May/June 2016 · Q71 Mark
A business omitted discounts allowed of $700 from its trial balance. During the year a machine had been sold for cash of $500 but the only accounting entry made was a debit in the bank account. What is the balance on the suspense account before these errors are corrected?
A$200 debit
B$1200 debit
C$200 credit
D$1200 credit
✓ Correct answer
A: $200 debit
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