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Fletcher and Associates had an unadjusted bank account ledger balance at 31 May of $750 Dr. The bank statement at the same date showed a balance of $1090 Cr. Bank service charges for the month were $20 and outstanding cheques totalled $400. The bank statement revealed that the bank had collected dividends for the firm of $120 and a deposit of $150 is not yet recorded on the statement. What is the corrected bank account ledger balance at 31 May?
Absolute Advantage
The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than any competitor.
Trade Deficit
A situation occurring when a country's imports of goods and services exceed its exports, indicating a net outflow of domestic currency to foreign markets.
Major Trading Partners
denotes the most significant countries with which a particular nation conducts a considerable portion of its imports and exports.
Candlemakers
Traditionally, artisans or companies involved in the production of candles for lighting and other purposes.
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