Suspense Account Definition, What is Suspense Account, Advantages of Suspense Account, and Latest News
As can be seen the original entry to the suspense accounts is reversed, so the balance on the account is zero. Having been correctly identified, the interest expense account now contains the correct amount of 1,000. As can be seen the debit of 1,000 is unidentified and is posted as unclassified to the suspense account …