Question
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
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 a debit entry of $120 for managing the companys 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 the Cash at Bank ledger as follows.
Debit | Credit |
---|---|
| ?? |
Please select the items from the following menu as the appropriate items to be placed under the Creditcolumn of Cash at Bank ledger.
Select one or more:
i. Unpresented Cheque $1,350
ii. Outstanding Deposit $2,000
iii. Bank Charge $120
iv. Balance as per bank statement $16,600
v. Dishonoured Cheque $530
vi. Bank Interest payment $120
vii. Error $100
viii. Outstanding Deposit $1,782
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