Mandy’s trial balance failed to agree. The difference of $620 was placed in a suspense account. The suspense account’s balance was shown on the debit side of the trial balance.
Which error had caused the difference?
Discounts allowed of $310 had been credited to the discount received account.
2 )
Discounts received of $310 had been credited to the discount allowed account.
3 )
The value of closing inventory had been overstated by $620.
4 )
The value of closing inventory had been understated by $620.
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