Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

A trader removed some goods from the business for personal use. He credited the purchases account with the cost price of the goods, $200$, and credited the sales account with the selling price, $300$. Which entries did he make to put right the error?

  • Adebit drawings $200$ and income statement $100$; credit suspense $300$
  • Bdebit drawings $200$ and sales $300$; credit suspense $500$
  • Cdebit suspense $300$; credit drawings $200$ and income statement $100$
  • Ddebit suspense $500$; credit drawings $200$ and sales $300$

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