Question

Rectify the following errors assuming that a
Suspense Account had been opened :
(i) A purchase of Rs. 8,000 from 'B' on credit
was debited to him.
(ii) An amount of Rs. 300 received from Mr.
C was debited to his account.
(iii) A credit sale of Rs. 500 to Ramesh was
credited to his account.
(iv) A sale of Rs. 3,000 to Goel was debited
to his account as Rs. 8,000.
Pass necessary rectifying journal entries

Answer 1

Journal Entries:

(i) suspense A/C____Dr 16000

To B's A/C. 16000

(ii) suspense A/C____Dr 600

To C's A/C. 600

(iii) Ramesh A/C_____Dr 1000

To suspense A/C 1000

(iv) suspense A/C____Dr 5000

To Goel A/C 5000