PRC-1 · Chapter 3 · Question 85 of 100
The total of the debit column in a trial balance is Rs. 450,000, and the total of the credit column is Rs. 442,000. What is the required entry to balance it?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Credit Suspense Account Rs. 8,000
Explanation
Because the credit side is short by Rs. 8,000, a Suspense Account must be opened and credited with Rs. 8,000 to equalize the two columns.
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