Ben Dua, aged 46, is the financial controller of Joe- Jane Company Ltd earning a net income of GhS 3 400.00

per month. He is also entitled to 10% performance bonus payable in January after the financial year subject to

company approval. Your bank has granted him a revolving O/D facility of GHS 600.00 which he had almost

fully utilised. Today, your bank has received two clearing cheques, one for GHS 300.00 payable to ECG and

the other for GHS 120.00 payable to Home Finance CO Ltd. Paying the cheques will mean that the O/D limit

will be exceeded by GHS 500.00.

He gave your bank a telephone call for him to meet with the manager. As part of the preparation to meet him

you went through his O/D file and account statement for the past three months and discovered the following

regular monthly payments:

Water bill 100

Electricity bill 80

Hire purchase 50

Mortgage payment. 120

Rent 350

At the meeting he pointed out that his wife was retrenched recently and her entitlement of GHS16 000 .00 was

used by the family to complete their residential home. He currently provides housekeeping money of GHS 500