Accounting for IGCSE & O level - Accounting Procedures (Section 4 - No. 23)
What is the correct journal entry to correct the error where a sales commission of $140 was misposted as $400?
Debit Sales Commission, Credit Suspense Account
Debit Suspense Account, Credit Sales Commission.
Debit Suspense Account, Credit Commission Expense
Debit Commission Expense, Credit Suspense Account
Explanation
Debit Suspense Account, Credit Sales Commission.
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