Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

The trial balance fails to agree, so a suspense account is created. Subsequently, the following mistakes are discovered and the suspense account is fully cleared. 1. A sales invoice for $1240 was left out of the books entirely. 2. The total purchases amount was recorded as $85 600. It ought to have been $87 580. 3. Rent paid of $2600 was entered correctly in the cash book, but it was recorded as $6200 in the rent account. What was the opening balance on the suspense account?

  • A$1620 credit
  • B$1620 debit
  • C$5580 credit
  • D$5580 debit

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