Sales Day Book - undercast - Suspence Account

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi
Can somebody please explain the correction of sales day book undercast. eg
Should have been:

Dr Sale Ledger Control Account 117.5
Cr Sales 100.00
Cr Vat 17.50

Instead undercast S/L by £25.00

Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Sales Day Book - undercast - Suspence Account

    The entries to correct would be (assuming your abbreviation "S/L" means sales ledger control account).

    Debit sales ledger control account £25.00
    Credit suspense £25.00

    Kind regards
    Steve

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