Z’s bank statement shows a balance of N825 overdrawn. The bank statement includes bank charges of N50, which have not been entered in the cash book. There are unpresented cheques totalling N475 and deposits not yet credited of N600. The bank statement incorrectly shows a direct debit payment of N160, which belongs to another customer. What figure for the bank balance should be shown in the statement of financial position?
N590 overdrawn.
N540 overdrawn.
N790 overdrawn.
N840 overdrawn
