Milky a retailer started a business on 1st June 2017 .on 31st 2018 the trial...
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Accounting
Milky a retailer started a business on 1st June 2017 .on 31st 2018 the trial balance extracted by an accountant failed to balance by credit amount of $800. the following errors were made:
1;$500 cash paid to creditor peller was recorded to his account only.
2 Sell had been under cashed by $1500.
3, Discount allowed of $700 was credited in account.
4 Purchase of a computer $70000 was debited in the office expense amount.
5, A balance of $800 on a creditor's account was excluded totally from the creditors.
6, Payment of sides of the cash book had been overcast by $400.
7, Discount received was only recorded in the cash book only $200.
8, Goods sold on credit to merry$300 were not recorded in the books of account.
Required:
1) Journal entry to correct the errors.
2) Suspense account daily balance.
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