Write out the Journal Entries to rectify the following errors, using a Suspense Account. (1) Goods of
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Write out the Journal Entries to rectify the following errors, using a Suspense Account.
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(1) Goods of the value of 5,000 returned by Mr. Sharma were entered in the Sales Day Book and posted therefrom to the credit of his account; (2) An amount of 7,500 entered in the Sales Returns Book, has been posted to the debit of Mr. Hari, who returned the goods; (3) A sale of $20,000 made to Mr. Amit was correctly entered in the Sales Day Book but wrongly posted to the debit of Mr. Sumit as * 2,000; (4) Bad Debts aggregating 15,000 were written off during the year in the Sales ledger but were not adjusted in the General Ledger; and (5) The total of "Discount Allowed" column in the Cash Book for the month of September, 2020 amounting to 12,500 was not posted.
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i Sales A c Dr 5 000 Sales Returns A c Dr 5 000 To Suspense A c Cr 10 00... View the full answer
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