O-LevelAccountingVerification of accounting records7707/12 · May/June 2023 · Q91 Mark
Khalid made entries in a suspense account to correct two errors found in his ledger accounts. Once the errors were corrected, the suspense account was closed. error 1 $700 sales had been omitted from the sales account. error 2 The purchases journal had been overcast by $550. Which entry was made in the suspense account to balance the trial balance?
Acredit $150
Bcredit $1250
Cdebit $150
Ddebit $1250
✓ Correct answer
B: credit $1250
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Verification of accounting records and see which topics are most likely to come up next.
Sign up free →