Question

What will be the rectified entry of this statement
A discount of Rs. 581 allowed to a customer has been credited to him as Rs. 562

Explain it also ...

Answer 1

*Correct entry-----
Discount allowed a/c Dr. 581
To customer a/c 581

*Wrong entry-----
Discount allowed a/c Dr. 581 (this is right)
To customer a/c 562

*Rectifying entry-----
Suspense a/c Dr. 81
To Customer a/c 81