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how to pass entries for suspense account?
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Answer Posted / rituraj
Mostly suspense account is made whenever there is a loss of
any accounting information. Say for a purchase entry on the
cash book has been posted and no entry and the information
of Purchase is omitted then
Purchase A/c Dr.
To Suspense A/c
then it is adjusted in Profit and loss adjustment a/c
| Is This Answer Correct ? | 29 Yes | 7 No |
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