This topic contains 1 reply, has 2 voices, and was last updated by 
John Moffat 3 days, 17 hours ago.
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- November 8, 2018 at 8:30 pm
Hello,Sir
cash received from sale of non current asset (1000$) in cash book correctly recorded but debited to disposalwhich is correct entry with suspense account
CR disposal 1000
CR non-current asset 1000
DR suspense account 2000Or
CR disposal 2000
DR suspense 2000???
November 9, 2018 at 6:47 amAs you will know from my free lectures on non-current assets, they should have credited the disposal account and not debited it.
Therefore it is your second entry that is the right one for correcting the mistake.
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