ACCA
Suspense Accounts and Errors
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A bookkeeper extracted a trial balance that failed to agree. The debits exceeded the credits by $4,500, so a suspense account was opened. It was later discovered that a cash receipt of $4,500 from a credit customer was correctly entered in the cash book but completely omitted from the receivables ledger. What journal entry is required to correct this error and clear the suspense account?
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