![]() It is useful to have a suspense account, rather than not recording transactions at all until there is sufficient information available to create an entry to the correct account(s). An entry into a suspense account may be a debit or a credit. Once the accounting staff investigates and clarifies the purpose of this type of transaction, it shifts the transaction out of the suspense account and into the correct account(s). ![]() A suspense account is an account used to temporarily store transactions for which there is uncertainty about where they should be recorded. ![]()
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