Sale of Rs.7600 to Ashok was credited to his account as Rs.6700. In rectifying entry Ashok A/c will be
Debited by Rs.900
Credited by Rs.900
Credited by Rs. 14300
Debited by Rs.14300
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Posting of wrong amount in the customer's account is an error of commission. Since the error has affected a personal account, hence there will no affect on the profit & loss account. Rectification need to be done through suspense account.
Following rectification entry will be passed:
Customer's A/c Dr. 90
To Suspense A/c 90
(Short amount debited to customer a/c, now rectified)
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