Question

A credit sale of rupees 50 has been credited to sales and also to trade recievable account. Rectify​

Answer 1

A journal entry is the business transaction record in the accounting books of an enterprise or a business.

• A suspense account is used by a business when there are unclear entries that need clarification.

• The correct journal entry will be -

• Trade Receivables A/c Dr 100

        To Suspense A/c 100

        ( Being the amount of credit sales wrongly credited to trade receivable   account, now rectified)