Hello everyone!! Could you please help me in analyzing the foll transaction:
*cash received from jadu Rs. 8,640 has been posted to the debit of Madhu's Account.
As per my analysis:
entry made: Madhu account 8,640
Suspense account 8,640
should be: Cash 8,640
Jadu account 8,640
therefore, my adjusting entry is:
Cash 8,640
Suspense account 8,640
Jadu account 8,640
Madhu account 8,640
Am i correct? TY
CAclubindia
