A trader's trial balance did not agree at the end of the financial period and a suspense account was opened. The following errors were discovered. 1 No entry had been made in the books of account for a purchase of inventory, $650. 2 Purchase of a vehicle by cheque had been credited to bank but debited to motor expenses. 3 The discount received of $300 had been correctly recorded in the purchases ledger control account and was debited to discount allowed account. 4 The purchases account for the year had been incorrectly totalled. Which errors would affect the suspense account?
✓ Correct answer
D: 3 and 4 only
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