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suspense account

Ssaifudeen11y ago
the ommission of petty cash book balance will cause a imbalance in the trial balance ? and wether this needs a suspense account or not to correct this ?
John MoffatJohn MoffatTutor11y ago#1
Yes it does - the suspense account is simply a way of keeping track of errors as we find them. You might find the free lecture on suspense account to be helpful.
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