Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a suspense account was opened when a trial balance

A suspense account was opened when a trial balance failed to balance. It was then...

60.1K

Verified Solution

Question

Accounting

A suspense account was opened when a trial balance failed to balance. It was then discovered that returns of $200 had been correctly entered in the supplier's account but debited in the sales returns account. This was the only error. What was the balance on the suspense account before this error was corrected? Select one: O a. credit $200 O b. credit $400 O c debit $200 O d. debit $400

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1) How does cellular respiration impact the observed rate of photosynthesis on algae beads? 2) look up...

Physics
1.2K views

a.) A particular patch of a vegetable oil (n=1.30) floating in water (n=1.33) is 530 nm...

Biology
1.2K views

. In the fluorescence microscopy video, fluorescein diacetate(FDA) was added to the trichomes and fluorescencevisualised....

Basic Math
1.2K views

Your little sister is selling scout cookles and you go along with her. Suppose the...

Calculus
1.2K views

Find the eccentricity of the ellipse 2 1 x 25 36

Accounting
1.2K views

Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31...

Accounting
1.2K views

QS 13-2 Corporate financial statements LO2 Ludwig Ltd. showed the following amounts for its year...

Accounting
1.2K views

On January 1, 2018, Elkhardt Ltd. purchased $215,000 of 12%, 10-year bonds at face value...

Accounting
1.2K views

Current Attempt in Progress Your Answer Correct Answer Your answer is partially correct. The...

Accounting
1.2K views

1. why should the incremental cost of a risk response alternative be considered when deciding...

Accounting
1.2K views

Use the following information of VPI Company to prepare a statement of cash flows for...

Finance
1.2K views

Recall a purchase where you were upsold or bought something that you later regretted after...