Waec Model Questions Vol1 2019 Commerce Question 49

A bank reconciliation is required. The bank statement shows a closing balance of ₦85,750. The cash book shows a closing balance of ₦87,200. The following items need to be considered:\n- Deposits in transit: ₦4,500 (not yet reflected in the bank statement).\n- Outstanding checks: ₦3,200 and ₦2,800.\n- Bank service charge: ₦150 (deducted by the bank, not recorded in the cash book).\n- Interest earned: ₦120 (credited by the bank, not recorded in the cash book).\n- An error in the cash book where a receipt of ₦1,200 was recorded as ₦1,500.\n- A note of ₦2,600 collected by the bank on behalf of the company, not yet recorded in the cash book.\n- A bank error where a cheque of ₦5,220 was incorrectly debited.\nPrepare the bank reconciliation statement and state the corrected cash book balance after all adjustments.