Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

Bernie’s books of account contained two mistakes: the sales journal had been undercast by $200; a payment for insurance amounting to $120 was entered correctly in the cash book but posted to the insurance account as $102. What was the opening balance of the suspense account?

  • A$182 on the credit side
  • B$182 on the debit side
  • C$218 on the credit side
  • D$218 on the debit side

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