We extracted a trial balance at 30 June 2018 but, as it does not balance, it...

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We extracted a trial balance at 30 June 2018 but, as it does not balance, it is vital that we investigate the causes of this imbalance. We find the following: ● The rates are overcast by £20. bank V. • Sales are undercast by £100. A credit to William has been overcast by $35 ● . The sale of goods to John for £45 has been entered as £54 in both accounts. Prepare the journals to correct errors AND the suspense account We extracted a trial balance at 30 June 2018 but, as it does not balance, it is vital that we investigate the causes of this imbalance. We find the following: ● The rates are overcast by £20. bank V. • Sales are undercast by £100. A credit to William has been overcast by $35 ● . The sale of goods to John for £45 has been entered as £54 in both accounts. Prepare the journals to correct errors AND the suspense account

Answer rating: 100% (QA)

To correct the errors and balance the trial balance you will need to make the following journal entr... View the full answer