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A-LevelAccountingReconciliation and verification9706/12 · Oct/Nov 2015 · Q101 Mark

A sales return of $400 has been credited to the customer's account as $40. A suspense account is created to complete the trial balance. What is the balance on the suspense account?

A$360 Credit
B$360 Debit
C$440 Credit
D$440 Debit

✓ Correct answer

A: $360 Credit

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About this question

Topic
Reconciliation and verification, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source
A-Level Accounting, Oct/Nov 2015 Paper 1 Variant 2, question 10.

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