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John Moffat.
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Yaashi
- Topics: 3
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a cash refund of $50 given to a customer had been credited to
purchases
John Moffat
- Topics: 57
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It should have been debited somewhere (to which account depends on why the refund was given).
Therefore at the moment the debit side of the trial balance will be $50 too low and the credit side will be $50 too high. Therefore a suspense account will be created with a debit balance of $100.
Yaashi
John MoffatViewing 2 posts - 1 through 2 (of 2 total)
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