Part A (3 marks)

Silver Ltd is preparing bank reconciliation statement for January. The following items are identified.

Outstanding deposit $3 200

Outstanding EFTs $800

Cash balance as per company records $12 490

Cash balance as per bank statement $10 900

The bank mistakenly included a deposit of $900 to Silver Ltds bank statement that related to Watsonia Stores.

The bank correctly credited $1 230 to Silver Ltd. However, the cash receipts journal entry was incorrectly made for $1 320.

Required:

Prepare the bank reconciliation statement for January. (3 marks)