GCEFinancial AccountingTrial Balance and Errors2023

A trial balance totals ₦850,000 on the debit side and ₦843,500 on the credit side. The difference is entered in a suspense account. Which of the following shows the correct suspense account entry?

ADebit side of suspense account with ₦6,500
BCredit side of suspense account with ₦6,500CORRECT
CDebit side of suspense account with ₦850,000
DCredit side of suspense account with ₦843,500
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Why the answer is B, and why the others tempt you.
The debit side exceeds the credit side by ₦6,500 (₦850,000 − ₦843,500). To make the trial balance agree, the difference of ₦6,500 must be added to the credit side by placing it on the credit side of the suspense account. The suspense account therefore has a credit balance of ₦6,500 pending investigation.
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