Phil is confused about how much cash he has available to spend on new items for her business. Phil has looked the Bank Statement and thinks he has $9,000 he can spend as the final balance on the bank statement shows a $9,000 Cr.

Phil has also reviewed his business records and after including all the information from the Bank Statement has worked out the balance in his Cash at Bank account is $7,900 Dr.

Phil has spotted the following items that show up in the Cash Receipts and Cash Payments Journals which were not on the bank statement.

- $1250 Cash received on the last day of the month which has not been deposited in the bank as yet.

- Cheque #427 for $800

- Cheque #430 for $1,650

- An error made by the bank on Cheque #400. The business records correctly show the cheque as being a payment for $1000 but the bank has recorded the payment as being $1100.

REQUIRED

Complete a Bank Reconciliation Statement.