Neco 2023 Financial Accounting Question 6

XYZ Ltd prepared a bank reconciliation for the month ended 31 May. The bank statement balance is \( \text{₦}150,000 \) and the book cash balance is \( \text{₦}145,000 \). Outstanding checks total \( \text{₦}20,000 \) of which one is known to be \( \text{₦}12,000 \). Deposits in transit total \( \text{₦}15,000 \) of which one is known to be \( \text{₦}8,000 \). The bank charged a service fee of \( \text{₦}500 \) that has not been recorded in the books, and a bank error credited the account with \( \text{₦}2,000 \). A customer's cheque of \( \text{₦}3,000 \) was returned unpaid and has not yet been deducted from the books. Determine the adjusted cash balance per the book after all items are accounted for.