Accounting for IGCSE & O level - Accounting Procedures (Section 7 - No. 44)
What is the journal entry to correct the error where a sales commission of $140 was misposted as $400?
Debit sales commission $260, Credit suspense account $260
Debit suspense account $260, Credit sales commission $260
Debit sales commission $400, Credit suspense account $140
Debit suspense account $140, Credit sales commission $400
Explanation
Debit suspense account $260, Credit sales commission $260
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