Answer Posted / sangeetha g
Which is known transaction is suspense account. for exp we
received money via wire transfer but unable to identified
who has sent money is called suspens and recorded in
suspense account as follows:
Bank Dr.
To suspense
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paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
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