The Bank Statement of a Business Shows an Overdraft of $10

question 39

Multiple Choice

The bank statement of a business shows an overdraft of $10 000 at 31 March.In reconciling the account at that date indicate the treatment you would give to Cheque No.461 for $30 that was drawn on 25 March but had not yet been presented for payment.

• A)Record in the cash receipts journal
• B)Record in the cash payments journal
• C)Add to the bank statement balance in the bank reconciliation
• D)Subtract from the bank statement balance in the bank reconciliation

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Definitions:

Systematic Inquiry

A structured method of investigating or examining a topic or problem.

Personal Activity

Any task or action undertaken by an individual, often relating to leisure, hobbies, or daily routines.

Sales Calls

Telephone calls or in-person visits made by sales representatives to potential customers to pitch products or services.

Conferences

Gatherings or meetings focused on discussing particular topics or issues, often involving multiple speakers and participants.