Question

Credit Purchases from Aradhya ₹6000 were posted to the debit of her account of ₹9000. Rectify the Following... | T.S Grewal 2021 Edition | Ch- 18 Rectification of Errors | Q16 - 2​

Answer 1

Answer:

Explanation:

suspense a/c dr. 15,000

To Aradhya a/c cr. 15,000

(Credit Purchases from Aradhya ₹6000 were posted to the debit of her account of ₹9000 , now rectified)

Answer 2

Answer:

Suspense A/C                    dr    15,000

  To Aradhya A/C                 cr                       15,000

Explanation:

• Credit Purchases are short term assets which are bought with the promise of repaying them in the future. These are added to the credit of the identity's  account since it is something that is received by them. In this question the amount is wrongly debited in her account.

• This issue can be easily solved by making a journal entry. The total amount of combining the credit and debit will be debited to Suspense Account.
• Therefore the journal entry to rectify the problem will be :

Particulars                                                debit             credit

  Suspense A/C                   dr               15,000

        To Aradhya A/C               cr                              15,000

( Credit purchases wrongly debited to Aradhya's account which is now rectified)