Is suspense account made after the books of accounts are closed or while preparing? or both is OK?​

Question

Is suspense account made after the books of accounts are closed or while preparing? or both is OK?​

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Alaia 2 years 2021-06-22T02:43:13+00:00 2 Answers 0 views 0

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  1. Peyton
    0
    2021-06-22T02:44:43+00:00
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    Answer:

    A suspense account is an account where you record unclassified transactions. The account temporarily holds entries while you decide how you will classify them. A suspense account can also hold information about discrepancies as you gather more data.

  2. Madelyn
    0
    2021-06-22T02:45:12+00:00
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    Answer:

    I prefer making the suspense a/c wile preparing the books of accounts

    Explanation:

    The reason being that I don’t miss out on it while searching through the trial balance

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