Suspense accountsForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Suspense accountsThis topic has 3 replies, 2 voices, and was last updated 9 years ago by John Moffat.Viewing 4 posts - 1 through 4 (of 4 total)AuthorPosts October 1, 2015 at 3:39 am #274363 JoyanneMemberTopics: 2Replies: 1☆good day,I have a query concerning a question that I attempted in suspense accounts.“A discount of $50 given to a customer had been credited to discounts received.”The solution was Dr Discount Allowed (2 * $50) $100; Cr Suspense (2 * $50) $100My question is why there is a Dr of $100 instead of $50?Please help! October 1, 2015 at 7:43 am #274386 John MoffatKeymasterTopics: 57Replies: 54628☆☆☆☆☆The correct solution is this:Dr Discounts received 50 (because this is a discount allowed and so the amount credited to discount received has to be removed)Dr Discounts allowed 50 (which is what the correct entry is for a discount allowed)Cr Suspense account 100 October 1, 2015 at 4:31 pm #274507 JoyanneMemberTopics: 2Replies: 1☆Thank you! October 2, 2015 at 7:45 am #274640 John MoffatKeymasterTopics: 57Replies: 54628☆☆☆☆☆You are welcome 🙂AuthorPostsViewing 4 posts - 1 through 4 (of 4 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In