Neco Model Questions Vol1 2018 Financial Accounting Question 45

The cash book (single column) for June shows an opening cash balance of \(₦45,000\). During the month the following cash receipts and payments were recorded:\n\nReceipts:\n- Cash sales \(₦120,000\)\n- Collections from debtors \(₦85,000\)\n- Loan received \(₦50,000\)\n\nPayments:\n- Cash purchases \(₦70,000\)\n- Rent \(₦15,000\)\n- Salaries \(₦30,000\)\n- Dividend paid \(₦10,000\)\n\nAt month‑end a bank reconciliation reveals that a cheque for \(₦12,000\) issued to a supplier was recorded in the cash book but has not been presented to the bank (outstanding cheque), and a bank collection of \(₦8,000\) from a debtor was not recorded in the cash book. Adjust the cash book balance for these items and state the corrected cash balance at month end.