The debit and credit columns of XYZ's trial balance did not agree, A debit balance of...

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The debit and credit columns of XYZ's trial balance did not agree, A debit balance of $25,950 was entered in a suspense account and the following errors were subsequently identified: (1) A cheque received for $1,900 had been correctly posted to the cash account and posted to the receivables ledger as $9,100 (2) Rent paid of $6,500 had been posted correctly to the cash account and posted to the rent expense account as $650 (3) No entries had been made to reflect a cash sale of $1,000 What is the remaining debit balance on the suspense account after making adjustments for the above errors? The debit and credit columns of XYZ's trial balance did not agree, A debit balance of $25,950 was entered in a suspense account and the following errors were subsequently identified: (1) A cheque received for $1,900 had been correctly posted to the cash account and posted to the receivables ledger as $9,100 (2) Rent paid of $6,500 had been posted correctly to the cash account and posted to the rent expense account as $650 (3) No entries had been made to reflect a cash sale of $1,000 What is the remaining debit balance on the suspense account after making adjustments for the above errors?

Answer rating: 100% (QA)

The rectified balance of suspense account is as under Initial balance of Suspense 25950 Less R... View the full answer