At the end of the accounting year 31 March 2016, the trial balance of Tim plc. contains a suspense account with a credit balance of £36.
Which of the following is likely to cause this credit balance of £36 in the suspense account?

Question

At the end of the accounting year 31 March 2016, the trial balance of Tim plc. contains a suspense account with a credit balance of £36.

Which of the following is likely to cause this credit balance of £36 in the suspense account?

Answer

a bad debt of £36 was recorded in trade receivables as £72.

Answer

An insurance payment of £72 was correctly recorded in the cash account but was recorded in the insurance expense account as £36.

Answer

A cash payment of £72 from customer was correctly recorded to the cash account but was recorded to the trade receivables account at £36.

Answer

A credit purchase of £72 was correctly recorded to the supplier account but was debited to purchases account as £36.

Crowdly