Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A bank statement has a credit balance of $1500. A payment of $500 and a receipt of $1250 were entered in the cash book, but they have not yet been shown on the bank statement. Bank interest payable of $1100 was recorded correctly in the cash book, but because of a bank mistake it was entered on the bank statement as $1000. What is the cash book balance?

  • A$650
  • B$850
  • C$2150
  • D$3350

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