Waec Model Questions Vol1 2019 Commerce Question 35

A company's cash book shows a closing cash balance of ₦2,150,000 as at 31 March 2024. The bank statement for the same period shows a closing balance of ₦2,300,000. The following items need to be considered:\n- A cheque of ₦85,000 issued by the company was returned unpaid (bounced) and is recorded in the cash book but not in the bank statement.\n- A bank service charge of ₦12,500 appears on the bank statement but is not recorded in the cash book.\n- Interest earned on the bank balance of ₦15,000 is shown on the bank statement and not recorded in the cash book.\n- A customer's direct deposit of ₦120,000 was credited by the bank but not yet recorded in the cash book.\n- A standing order of ₦45,000 was issued by the company and is recorded in the cash book but not yet presented to the bank.\n- An error in the cash book recorded a payment of ₦30,000 as ₦3,000 (a transposition error).\nPrepare the bank reconciliation statement and state the corrected cash book balance as at 31 March 2024 (in Naira).