The Phantom screamed. Its form unraveled into a cloud of mis-filed receipts and faded sticky notes. With a final whoosh , it collapsed into a neat, zero-balance pile of dust.
(All figures rounded to the nearest whole number.)
DR: Suspense Account – $1,000,000 CR: Phantom Liability – $1,000,000
With a flick of his wrist, he entered a single correcting journal entry:
