Question

Rectify the following:

i)A discount allowed to a customer has been credited to him as Rs.145 in place of Rs.154.

Please explain how to do it.Please give the wrong entry,the correct entry,and the rectified entry.Thanks!

Answer 1

hey !
correct entry = discount allowed Dr 154
To customer 154
but because uhh have only credited customer account with 145 . So it is single sided error .
customer account has undercasted by 9
The customer account should be credited with 9 .
so the rectified entry is
suspense account Dr 9
To customer account 9

Hope uh have understood