O-LevelAccountingVerification of accounting records7707/12 · Oct/Nov 2021 · Q121 Mark

The bank statement of a business had a credit balance of $2690 on 1 October 2021. At that date cheques totalling $850 had not yet been presented for payment. What was the bank balance in the cash book on 1 October 2021?

A$1840 credit

B$1840 debit

C$3540 credit

D$3540 debit

✓ Correct answer

B: $1840 debit

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Topic: Verification of accounting records, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2021 Paper 1 Variant 2, question 12.

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