What are Wash accounts and suspense accounts and how do
they operate?
Answer / dipinder kaur
susupense accounts and wash accounts are one and the same thing...they are basically for providing a temporary location for transactions untill a co. figures out where the cost needs to be transferred...At the end of the year, suspense/wash accounts should show a zero balance..
Is This Answer Correct ? | 24 Yes | 4 No |
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