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When you proceed to reconcile then Bank Account startingwith Credit CashBook balance how will you deal with the transactions given n Q .8 ? |
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Answer» Solution :(i) CHEQUE issued butnotyet PRESENTED for PAYMENT are DEDUCTED because bank showsloweroverdrawn balance (ii) Cheques deposited but nor cleard are addedbecause bank shows higher overdrawn balance (iii) Bank charges are added because bank shows higher overdrawn balance (iv) INTRESTED allowed is deducted because bank shwos lower overdrawn balance |
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