Bank balance on bank statement is 10.150 TL and bank account ledger is 10.000 TL. The difference arose of 500 TL interest revenue and a 350 TL service charge. Which entry is made? a. 500 debit to 642-Interest revenue and credit to 102-Bank; 350 TL debit to 102-Bank and credit to 770-GAE O b. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 770-GAE and credit to 102-Bank C. 150 debit to 102-Bank and credit to 642-Interest revenue d. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 780-Financing Expense and credit to 102-Bank

Bank balance on bank statement is 10.150 TL and bank account ledger is 10.000 TL. The difference arose of 500 TL interest revenue and a 350 TL service charge. Which entry is made? a. 500 debit to 642-Interest revenue and credit to 102-Bank; 350 TL debit to 102-Bank and credit to 770-GAE O b. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 770-GAE and credit to 102-Bank C. 150 debit to 102-Bank and credit to 642-Interest revenue d. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 780-Financing Expense and credit to 102-Bank

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Bank balance on bank statement is 10.150 TL and bank account ledger is 10.000 TL. The
difference arose of 500 TL interest revenue and a 350 TL service charge. Which entry is made?
O a. 500 debit to 642-Interest revenue and credit to 102-Bank; 350 TL debit to 102-Bank and
credit to 770-GAE
O b. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 770-GAE and
credit to 102-Bank
O c. 150 debit to 102-Bank and credit to 642-Interest revenue
O d. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 780-Financing
Expense and credit to 102-Bank

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