A suspense account was opened when a trial balance failed to agree. The following errors were later discovered.  A gas bill of $420 had been recorded in the gas account as $240.  A discount of $50 given to a customer had been credited to discounts received.  Interest received of $70 had been entered in the bank account only. What was the original balance on the suspense account?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A suspense account was opened when a trial balance failed to agree. The following errors were later

discovered.

 A gas bill of $420 had been recorded in the gas account as $240.

 A discount of $50 given to a customer had been credited to discounts received.

 Interest received of $70 had been entered in the bank account only.

What was the original balance on the suspense account?

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