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Answer Posted / h.r. sreepada bhagi
It's not 'Suspense Capital Account'. It should be Suspense
Account. All receipts & payments which need clarification at
the time of payment or receipt shall be entered in to this
account. Like that any payment or receipt found in bank
statement, but with out proper information can be accounted
to this account. Clarification to be sought & the entries
shall be transferred to the correct head of account before
closing the accounts periodically and Suspense account
balance should be nullified.
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