Question

Credit purchase of 7000 recorded in sales book rectification

Answer 1

Answer:

purchase a/c Dr 7000

sales a/c Dr 7000

To suspense a/c 14000

Answer 2

Rectification entry

Explanation:

                       Books of (---- Limited)

                             Journal Entry

Date       Account Title and Explanation       Debit      Credit

                   Purchase             a/c Dr                7,000

                   Sales                    a/c Dr                7,000

                         To Suspense     a/c                               14,000

                     (Being Rectify entry of purchase on credit)

Explanation: Suspense account will be credited with double amount of purchase.

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