WAEC Accounting 2020 Objective — Question 11
Question 11 of 50 from the West African Examinations Council (WAEC) Accounting 2020 Objective paper, with the correct answer and a full explanation.
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A total of D 9,160 was entered in the sales account as D 9,610. To correct this error: debit A. Sales Day Book D450; B. Sales Day Book D450, credit Sales Account D450 C. Sales Account D450, credit Suspense Account D450 D. Suspense Account D450, credit Sales Account D450
- A. debit Sales Day Book D450
- B. debit Sales Day Book D450, credit Sales Account D450
- C. debit Sales Account D450, credit Suspense Account D450
- D. debit Suspense Account D450, credit Sales Account D450Correct
Explanation
This shows that the sales account has been overcast by D450 (9,610-9,160=450). To correct this, debit Suspense account and credit Sales account.
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