ACCA FA · Chapter 10 · Question 3 of 12
A trial balance has debit totals of $386,450 and credit totals of $389,170. What entry is required to open a suspense account?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Debit suspense $2,720
Explanation
Credits exceed debits by $389,170 - $386,450 = $2,720. To make the trial balance agree, a debit balance of $2,720 is placed in the suspense account until the errors are found and corrected.
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