O-LevelCommerceBanking7100/11 · May/June 2010 · Q331 Mark
The diagram shows a partly completed bank statement. [Figure: Bank Statement table with Credit, Debit, Balance columns and entries for May 1, 6, 14, 16] The amount of the salary paid into the account was $700. Which is the correct entry for May 16?
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A$700 would be entered in the Credit column and the balance would be $650.
B$700 would be entered in the Credit column and the balance would be $750.
C$700 would be entered in the Debit column and the balance would be $650 overdrawn.
D$700 would be entered in the Debit column and the balance would be $750 overdrawn.
✓ Correct answer
B: $700 would be entered in the Credit column and the balance would be $750.
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