Question

The diagram shows a partly completed bank statement. [Figure 34.1]

Bank Statement
Credit $
Debit $
Balance $
May 1 Balance b/f 200
May 6 Cheque 456873 50 150
May 14 Direct Debit 100 50
May 16 Salary

The amount of the salary paid into the account was $700.

Which is the correct entry for May 16?

Accepted Answer

$700 would be entered in the Credit column and the balance would be $750.

Answer

$700 would be entered in the Credit column and the balance would be $650.

Answer

$700 would be entered in the Debit column and the balance would be $650 overdrawn.

Answer

$700 would be entered in the Debit column and the balance would be $750 overdrawn.

The diagram shows a partly completed bank statement. [Figure 34.1] Bank Statement Credit $ Debit $ Balance $ May 1 Balance b/f 200 May 6 Cheque 456873 50 150 May 14 Direct Debit 100 50 May 16 Salary The amount of the salary paid into the account was $700. Which is the correct entry for May 16?

✓ Correct answer