O-LevelAccountingVerification of accounting records7707/12 · May/June 2017 · Q151 Mark
The totals of a trial balance did not agree and a suspense account was opened. It was later found that the total of the discount allowed column in the cash book, $100, had been credited to the discount allowed account. Which journal entry corrects this error?
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Adiscount allowed (debit $100), suspense (credit $100)
Bdiscount allowed (debit $200), suspense (credit $200)
Csuspense (debit $100), discount allowed (credit $100)
Dsuspense (debit $200), discount allowed (credit $200)
✓ Correct answer
B: discount allowed (debit $200), suspense (credit $200)
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