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What the correct entries in accounting records of sa traders

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Reference no: EM132992405

On comparing the cash journals of SA Traders for the month ending 30 April 2020 with the bank statement for the same period, the bookkeeper found that the following items only appeared on the bank statement for the month ended 30 April 2020:

Service fees R244

Cash deposit fees R79

Interest on favourable bank balance R158

Problem 1: The correct entry/entries in the accounting records of SA Traders is/are as follows:

A. Bank charges in the cash payments journal to the amount of R323 (R244 + R79) for April 2020 and interest on the bank account to the amount of R158 in the cash receipts journal for April 2020.

B. Bank charges in the cash payments journal to the amount of R481 (R244 + R79 + R158) for April 2020.

C. Bank charges to the amount of R323 (R244 + R79) and interest on the bank account to the amount of R158 in the cash payments journal for April 2020.

D. Bank charges to the amount of R323 (R244 + R79) and interest on the bank account to the amount of R158 in the cash receipts journal for April 2020

Reference no: EM132992405

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