Accounting 0452 · IGCSE · Correction of errors

Correction of errors — practice question

While preparing draft financial statements, Michael set up a suspense account. He later found that purchases of $68 had been posted to the purchases account as $86. What entry was posted in the suspense account when this error was corrected?

  • A$18 credit
  • B$18 debit
  • C$154 credit
  • D$154 debit

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