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On the 1 January 2019 Zakwe traders wrote a cheque of R240 payable to N. Nolizwe. The amount has been appearing in the Bank reconciliation

On the 1 January 2019 Zakwe traders wrote a cheque of R240 payable to N. Nolizwe. The amount has been appearing in the Bank reconciliation statement. On the 1 July 2019 Zakwe traders will reverse the entry:

Credit the Bank reconciliation statement with R240.

Debit the Bank reconciliation statement with R240.

Credit the Bank Account with R240.

Make an entry in the Cash receipts journal of R240.

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