Trial balance - Suspense account

Jane has a problem, because Mr. Manager cannot produce the receipt for the missing $20.

The auditors are coming, and she has to close the accounts. What should Jane do now?

Credit Cash $200
Debit Entertainment $100
Debit Petrol $80
Debt SUSPENSE ACCOUNT $20

Her Trial Balance will look like this:

	Debit	Credit
Cash		200
Entertainment	100
Petrol	80
Suspense account	20
	200	200

To simplify matters, Mr. Auditor will ensure that this amount of $20 is accounted either as a loan to Mr. Manager or Mr. Manager has to return the $20 to the company.

Thus the final balance will look like this:

	Debit	Credit
Cash		180
Entertainment	100
Petrol	80
Total	180	180