Credit balance $$7,470$

The Bank Statement received for October $2023$ showed the following:

Additional information:

It was discovered that cheque $143$ was entered wrongly in the cash book but correctly in the bank statement.

Required:

$($a$)$ Bring the cash book up to date. Calculate the updated balance on $31$ October $2023$ and state whether it is a debit or credit balance.

$(12$ marks$)$

$($b$)$ Prepare a statement to reconcile the difference between your amended cash book balance and the balance in the bank statement on $31$ October $2023.$

$(12$ marks$)$