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What is suspense Account?
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Answer Posted / puru
When trial balance does not tally , the difference is put
into a newly opened account named suspense account and the
trial balance is thus made to tally. In case , the debit
side exceeds the credit side the difference is put on the
credit side of suspense account . Likewise , if the credit
side of the trial balance exceeds the debit side , the
difference is put on the debit side of suspense account.
| Is This Answer Correct ? | 32 Yes | 12 No |
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