Goods worth Rs 1550 were sold to Sujata. It was recorded as Rs 1050 instead of Rs 1550. To rectify this mistake which of the following is correct? Options: A . &nbspSuspense account shall be debited by Rs 500 B . &nbspSales account shall be credited by Rs 500 C . &nbspSujata`s account shall be debited by Rs 500 D . &nbspB & C both

Goods worth Rs 1550 were sold to Sujata. It was recorded as Rs 1050 instead of R

Question

Goods worth Rs 1550 were sold to Sujata. It was recorded as Rs 1050 instead of Rs 1550. To rectify this mistake which of the following is correct?

Options:

A . Suspense account shall be debited by Rs 500

B . Sales account shall be credited by Rs 500

C . Sujata`s account shall be debited by Rs 500

D . B & C both

Answer: Option D
:
D
In this case Sujata`s account shall be debited while sales account shall be credited by Rs 500.

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