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A Review of the Financial Performance for the Month of July

question 6

Multiple Choice

A review of the financial performance for the month of July noted the following:
 Account  Budget  Actual  Bank balance at 1 July $8000$8000 Total cash payments$12000$10200 Total cash receipts $25000$21500\begin{array}{|l|r|r|}\hline \text{ Account } & \text{ Budget } & \text{ Actual } \\\hline \text{ Bank balance at 1 July }& \$ 8000 & \$ 8000 \\\hline \text{ Total cash payments} & \$ 12000 &\$ 10200 \\\hline \text{ Total cash receipts }&\$ 25000 & \$ 21500 \\\hline\end{array}
The actual bank balance and variance at 31 July is:


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