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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 youI 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
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