Business

27 January, 23:35

Cheryl was balancing the Trial Balance of the company. She found that the debit balance totaled $73,000 and the credit balance was $70,000. Cheryl decided to open a suspense account. On which side of the suspense account will Cheryl record the difference of $3,000?

credit side

debit side

both sides

the difference is not recorded in the suspense account

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “Cheryl was balancing the Trial Balance of the company. She found that the debit balance totaled $73,000 and the credit balance was $70,000. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

Use the basic accounting equation to answer these questions. (a) The liabilities of Sunland Company are $94,000 and the stockholders' equity is $254,000. What is the amount of Sunland Company's total assets?

What percentage of people in africa rely on solid fuel for cooking? 50% 60% 70% 80%?

When setting priorities for systems requests, the highest priority goes to projects that provide the?

In order to get a higher interest rate on the money you invest, what do you usually need to do? A. Reduce your investment B. Prioritize your goals C. Take more risk D. Put money in a savings account

Lukow Products is investigating the purchase of a piece of automated equipment that will save $400,000 each year in direct labor and inventory carrying costs.

New Questions in Business

Ignoring issues of the statute of frauds, is there a contract for the sale of vinny's celica?

The management of Retz Corporation is considering the purchase of a new machine costing $500,000. The company's desired rate of return is 10%. The present value factors for $1 at compound interest of 10% for 1 through 5 years are 0.909, 0.826, 0.

Jane and Ed Rochester are married with a 2-year-old child, who lives with them and whom they support financially.

One day a supplier supplied 300 units of a good at $20 per unit. A week later the same supplier supplied the same number of units at $10 per unit. Based on this evidence the supplier has experienced: a a decrease in quantity supplied.

The aims of mercantilists do not include a. achieving power and wealth for the state. b. achieving political and economic unity