23. Samuel’s trial balance did not balance so he opened a suspense account with a debit balance of $346. Control accounts are maintained for receivables and payables. Samuel discovered the following:
1. The sales day book was undercast by $400
2. Purchases of $520 from the purchases day book have only been recorded in the payables ledger control account
3. Profit on sale of non-current assets of $670 had been recorded in the sundry income account as $760
What is the remaining balance on Samuel’s suspense account after these errors have been corrected?
a.) $264 credit
b.) $136 debit
c.) $956 debit
d.) $1,266 debit
1. The sales day book was undercast by $400
2. Purchases of $520 from the purchases day book have only been recorded in the payables ledger control account
3. Profit on sale of non-current assets of $670 had been recorded in the sundry income account as $760
What is the remaining balance on Samuel’s suspense account after these errors have been corrected?
a.) $264 credit
b.) $136 debit
c.) $956 debit
d.) $1,266 debit