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Question

Goods worth Rs 1550 were sold to Sujata. It was recorded as Rs 1050 instead of Rs 1550. To rectify this mistake which of the following is correct?


A

Suspense account shall be debited by Rs 500

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B

Sales account shall be credited by Rs 500

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C

Sujata`s account shall be debited by Rs 500

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D

B & C both

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Solution

The correct option is D

B & C both


In this case Sujata`s account shall be debited while sales account shall be credited by Rs 500.


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