O-LevelAccountingVerification of accounting records7707/11 · May/June 2024 · Q91 Mark

A payment of $68 for insurance has been entered in the insurance account as $86. Which double entry will correct this?

Ainsurance $18 suspense $18

Binsurance $36 suspense $36

Csuspense $18 insurance $18

Dsuspense $36 insurance $36

✓ Correct answer

C: suspense $18 insurance $18

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2024 Paper 1 Variant 1, question 9.

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