Question
I need answer for the following question thanks in advance On 31 May 2019 Interactive Ltd had a cash balance as per company records of
I need answer for the following question thanks in advance
On 31 May 2019 Interactive Ltd had a cash balance as per company records of $18,000 debit. The bank statement from Community Bank on that date showed a credit balance of $ 16,800. A comparison of the statement with the cash account revealed the following facts:
1.The bank statement included adebitentry of $120 formanaging the company's account.
2.Cash sales of $1,882 on 12 May were deposited in the bank. The cash receipts journal entry were incorrectly made for $1,782. The bank credited Interactive Ltd for the correct amount.
3.Cheque #420 for $1,350 have not yet been presented to the bank.
4.Cash receipts amounting to $2,000 which were deposited at the bank on 30 May have not yet been recorded as a deposit by the bank.
5.On 31 May the bank statement showed a dishonoured cheque of $530 that had been issued by a customer to Interactive Ltd.
We then post the appropriate entries in theCash at Bank ledgeras follows.
Debit
Credit
??
Please select the items from the following menu as the appropriate items to be placed under theCreditcolumn of Cash at Bank ledger.
Select one or more:
i.Dishonoured Cheque$530
ii.Error$100
iii.Outstanding Deposit$1,782
iv.Unpresented Cheque$1,350
v.Bank Charge$120
vi.Bank Interest payment$120
vii.Outstanding Deposit$2,000
viii.Balance as per bank statement$16,600
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