The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in...

The trial balance of Deba Duwa Enterprise failed to agree. The difference was entered in the suspense account. The following errors were later detected:

i. A sum of $1000 received from Salako has been posted to his account;

ii. The sales day books was undercast by $560

iii. Return outwards books was overcast by $140

iv. Discount received, $410 from Damilola had been correctly entered in the cash book but not posted to Damilola's account

v. Goods worth $750 returned to a supplier was recorded in his personal account as $750

vi. Discount allowed was overcast by $310

vii Discount received column in the cash book has been overcast by $400.

You are required to prepare:

(a) Journal entries to correct the errors

(b) Suspense Account.?

In Accounting
9 Answers Available
Asked by Utibe 🙃❤️ on 20th May, 2023