A trial balance failed to agree and a Suspense account was opened. It was then found that

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A trial balance failed to agree and a Suspense account was opened. It was then found that rent received of $500 had been debited to the Rent Payable account. Which entries are required to correct this error?

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 27, 2023 08:51 AM

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A trial balance failed to agree and a Suspense account was opened. It was then found that

Question:

Rent Received account A credit B credit Codebit debit D Rent Payable obe account 500 credit 500 debit 500 credit credit 500 credit is 500 500 500 500 Suspense account debit Hitta no entry debit no entry $ 1000 1000

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According to the given options option B is the correct answer EXPLANATION As the rent income was mi...View the full answer

Accounting A Level And AS Level

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