Hi Mr John , I had some struggles to understand the questions .
For example " a payment of $50 had been credited to discount received "
- My workings : They already Dr stationery ( as they didn't mention that the DR is missing or anything ) and instead of CR Cash - They Cr discount received . So doesn't require an entry to the suspense account in this case .
- But The workings in the book . CR discount received 50- Cr cash 50 ( Dr suspense $100 ) .
I don't really get it , as The question doesn't say anything about DR side, they just said they CR to a wrong account .
Can you pls explain . Thank you
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Suspense account
7y ago#1I don't know which book you are using, but it seems confused!!
If you have typed the question correctly, then the answer in your book is wrong.
If it is a past exam question or a question in the BPP Revision Kit, then tell me which question and then I will be able to explain properly.
I'm sorry , the question is " A payment of $50 for stationery of $50 had been credited to discount received "
So I've missed " OF $50 " after " for stationery "
So my working s right or the working in the book is right ?
I'm using Kaplan ... Many Thanks
7y ago#3The wording of the question is still very poor, and their answer does not make any sense at all, however the question is interpreted.
I agree with your workings :-)
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