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On 30th April, 2011 the money book of Sircar demonstrated a bank overdraft of Rs. 1,970. A correlation of passages in the pass book with those in the money book uncovered the accompanying:
– Checks saved with the bank yet not yet credited in the pass book Rs. 8,505.
– Checks issued by Sircar however not yet exhibited by payees to bank for installment Rs. 12,500.
– Interest on settled store credited by bank under standing directions however not yet recorded in real money book Rs. 650.
Plan bank compromise explanation as on 30th April, 2011 to find out the offset according to pass book.
Write a paper that discusses the principles of financial accounting. No references or specific style is required.
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