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suspen

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › suspen

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by mrjonbain.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • February 10, 2024 at 9:31 am #700043
    maylynn
    Participant
    • Topics: 32
    • Replies: 34
    • ☆☆

    Please Answer is WHY not A?

    Savvy Co had a suspense account balance of $1,300 in its general ledger. This balance related to the accounting for an increase in the allowance for receivables. The increase in the allowance had been correctly recorded in the allowance for receivables account but the other accounting entry was posted to the suspense account pending the junior accountant making further enquiries. What accounting entries are required to clear the suspense account? A Dr Irrecoverable debts expense $1,300 Cr Suspense $1,300 B Dr Receivables $1,300 Cr Suspense $9,000 C Dr Suspense $1,300 Cr Receivables $1,300 D Dr Suspense $1,300 Cr Irrecoverable debts expense $1,300

    February 10, 2024 at 6:22 pm #700075
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2421
    • ☆☆☆☆☆

    I am curious what answer was given. Was it answer D?

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