A difference between the debit and credit totals in a trial balance is placed in
Answer Details
When preparing a trial balance, the total of all the debit balances should equal the total of all the credit balances. However, if there is a difference between the debit and credit totals, this indicates an error in the accounting records.
To correct this error, the difference is placed in a temporary account called a "suspense account." The suspense account is used to temporarily hold the difference until it can be identified and corrected.
Once the error is identified and corrected, the appropriate account is adjusted to reflect the correction. If the difference is due to a timing difference or an item that cannot be specifically identified, the amount in the suspense account will be transferred to the profit and loss account or appropriate account.
Therefore, the correct option to select in this scenario would be the "suspense account."