Question

Rectify the following errors : (i) Sales to Sriram Rs. 1,520 has been posted to his account as Rs. 1,250. (ii) Purchased goods from Manohar Rs. 550 has been credited as Rs. 505. (iii) Discount allowed to Valli Rs. 60 has been debited to her account. (iv) Purchase of furniture for cash Rs. 2,000 was not posted to ledger.

Answer 1

Answer:

1. Sriram. dr 270

To suspense account 270

2. Suspense account dr 45

To Manohar. 45

3. Suspense account dr 120

To Valli. 120

4. Furniture account dr 2000

.. To cash account. 2000