askshahin
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ROMOS
A suspense account, in accounting, is the section of a company's books where unclassified debits and credits are recorded. The suspense account temporarily holds unclassified transactions while a decision is being made as to their classification. Transactions in the suspense account will still appear in the general ledger, giving the company an accurate indication of how much money it has.
| 8 years ago. Rating: 2 | |
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