A business omitted discounts allowed of $\$ 700$ from its trial balance.
During the year a machine had been sold for cash, $\$ 500$, but the only accounting entry made was a debit in the bank account.
What is the balance on the suspense account before these errors are corrected?
$\$ 200{\text{ }}debit$
2 )
$\$ 1200{\text{ }}debit$
3 )
$\$ 200{\text{ }}credit$
4 )
$\$ 1200{\text{ }}credit$
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