Gce Model Questions Vol1 2019 Financial Accounting Question 10
Practice objective / multiple choice question 10 from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
During posting, two errors were made:\n1. A purchase invoice of \(\text{₦}3,250\) was debited to Purchases and credited to Cash, but the credit should have been to Accounts Payable.\n2. A sales invoice of \(\text{₦}4,800\) was recorded as a debit to Sales and a credit to Cash (the entries were reversed).\nAfter posting, the trial balance shows total debits of \(\text{₦}45,600\) and total credits of \(\text{₦}44,800\). What amount should be transferred to the suspense account to balance the trial balance after correcting the posting errors?
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About This Question
This is Gce Model Questions Vol1 2019 Financial Accounting Question 10. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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