Question

what is suspense account??

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Answer 1

Answer:

A suspense account is an account used temporarily to carry doubtful entries and discrepancies pending their analysis and permanent classification. It can be a repository for monetary transactions entered with invalid account numbers. The account specified may not exist, or it may be deleted/frozen

Explanation:

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Answer 2

Answer:

A suspense account is an account in the general ledger in which amounts are temporarily recorded. A suspense account is used when the proper account cannot be determined at the time the transaction is recorded. ... Suspense accounts should be cleared at some point, because they are for temporary use.

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