O-LevelAccountingSources and recording of data7707/11 · May/June 2013 · Q61 Mark

On 1 May Hassan had an overdraft of $1144. On 2 May he was notified by the bank that a cheque, $133, received from Waheed had been dishonoured. On the same day cash sales, $950, were paid into the bank. These were entered in the cash book. What was the balance brought down in the bank column of Hassan's cash book on 3 May?

A$327 credit

B$327 debit

C$1961 credit

D$1961 debit

✓ Correct answer

A: $327 credit

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2013 Paper 1 Variant 1, question 6.

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