Qn: 1)The book keeper made the following errors: -Discount allowed 3840 credited to Discount Received account -Discount received 2960 was debited to discount allowed account
What is to be recorded in the suspense account?
2) The book keeper made the following error: A discount allowed of 78 was debited to the discount received account
Should you open a suspense account?
My qn is, why do I have to open a suspense account for qn 1 whereas for qn 2, I don’t have to open a suspense account?.