At the end of the year, the cash book records a credit balance of $4800. The bank statement showed bank charges of $25 that were missing from the cash book. Cheque payments of $250 recorded in the cash book before the year end had still not been presented to the bank. How should the bank balance be presented in the statement of financial position?
- Acurrent asset $4775
- Bcurrent liability $4825
- Ccurrent asset $5025
- Dcurrent liability $5075