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Here are three accounting questions related to suspense accounts: 1. What is a suspense account, and when is it created in accounting? 2. How long

Here are three accounting questions related to suspense accounts: 1. What is a suspense account, and when is it created in accounting? 2. How long can an account typically remain in a suspense account before corrective action is taken? 3. How are suspense accounts cleared and what are the journal entries involved in this process?

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