Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 47 - No. 32)
What does it mean when the total credits exceed the total debits in the bank column?
The business has a debit balance.
The business has an overdraft.
The bank has made a mistake.
The business has cash available.
Explanation
A credit balance indicates the business has spent more money than it has.
Comments (0)
