Question
The bookkeeper of Voda Traders is struggling to complete the bank reconciliation for February 2020. After comparing the cash journals for February 2020 and the
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The bookkeeper of Voda Traders is struggling to complete the bank reconciliation for February 2020. After comparing the cash journals for February 2020 and the bank reconciliation statement at 31 January 2020 with the bank statement for February 2020, she provided you with the following information:
7. Items that appeared in the cash receipts journal and cash payments journal, but not on the bank statement: b. 29 Feb EFT 371 for Inventory purchases: R9 050
Where should the EFT 371 for R9 050 be recorded?
Credit the Bank reconciliation statement at 29 February 2020: R9 050
Credit Bank account in the general ledger for February 2020 R9 050
Debit Bank account in the general ledger for February 2020 R9 050
Debit the Bank reconciliation statement at 29 February 2020: R9 050
Does not need to be recorded
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