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Accounting errors and suspense accounts

Example 1: Solution

The journal entries and resulting entries in the suspense account are as
follows:
Journal Dr Cr
$ $

(Being correction of an error whereby only one entry was posted)

(Being correction of an error of addition in the purchases account)

(Being correction of an error whereby only one entry was posted)
Suspense
Dr $ Cr $

Illustrations and further practice

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