[ulkarb]

The trial balance of Z failed to agree, the totals being: debit $836,200
credit $819,700
A suspense account was opened for the amount of the difference and the following errors were found
and corrected:
1 The totals of the cash discount columns in the cash book had not been posted to the discount
accounts. The figures were discount allowed $3,900 and discount received $5,100.
2 A cheque for $19,000 received from a customer was correctly entered in the cash book but was
posted to the control account as $9,100.
What will be the remaining balance on the suspense be after the correction of these errors?

I just can not understand why discount received is Cr. It shall be as follows:
Dr. Discount received
Cr. Payables
So if I missed to post then first stage shall be
Dr. Suspense Account then Cr. Suspense account and Dr Discount Received?
Thank you

[ulkarb]

Can you please explain why a cheque cashed (90) is negative? what does it mean?

Thank you

[Author]

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