Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

Jack has set up a suspense account. He has discovered that rent paid of $\$250$ was entered correctly in the rent account, but was credited to the bank account as $\$520$. Which entries will rectify this error?

  • Adebit bank account $\$270$, credit suspense account $\$270$
  • Bdebit bank account $\$520$, credit suspense account $\$520$
  • Cdebit suspense account $\$270$, credit bank account $\$270$
  • Ddebit suspense account $\$520$, credit bank account $\$520$

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