The following transactions by Africa Traders occurred during February 2021:The provisional total of the bank column in the Cash receipts journal was R17 732.50The provisional total the bank column in the Cash payments journal was R23 233.58A direct deposit to the amount of R3 500.00 made by a client was entered in the correct cash journal as R5 300.00Debit order in favour of Tshwane Municipality to the amount of R3 780.25 in payment of the water and electricity accountSA Traders returned unfit merchandise with a selling price of R1 650.36. SA Traders purchased the merchandise on creditServices delivered for cash to SA Dealers - R1 874.55Bank charges per the bank statement, R215.35Interest on a favourable bank balance amounted to R365.40 What will the new total of the bank column in the Cash Payments Journal of Africa Traders at 28 February 2021 be? NB: Instructions1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)2. Use a full stop to indicate any decimals (eg: 1000.01)3. You must enter cents even if it is 0 (eg .00)4. Only show the amount, do not show the R (eg: 12141.72) Answer:

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Answered: The following transactions by Africa…

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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The following transactions by Africa Traders occurred during February 2021:

The provisional total of the bank column in the Cash receipts journal was R17 732.50
The provisional total the bank column in the Cash payments journal was R23 233.58
A direct deposit to the amount of R3 500.00 made by a client was entered in the correct cash journal as R5 300.00
Debit order in favour of Tshwane Municipality to the amount of R3 780.25 in payment of the water and electricity account
SA Traders returned unfit merchandise with a selling price of R1 650.36. SA Traders purchased the merchandise on credit
Services delivered for cash to SA Dealers - R1 874.55
Bank charges per the bank statement, R215.35
Interest on a favourable bank balance amounted to R365.40

What will the new total of the bank column in the Cash Payments Journal of Africa Traders at 28 February 2021 be?

NB: Instructions

1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)

2. Use a full stop to indicate any decimals (eg: 1000.01)

3. You must enter cents even if it is 0 (eg .00)

4. Only show the amount, do not show the R (eg: 12141.72)

Answer:

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