The correct answer is Rs. 1625. In the field of bookkeeping and accountancy, a bank reconciliation statement refers to the difference between the bank balance that is present on an entity’s bank statement as opposed to the amount shown in the accounting records of the of that entity.
There are many reasons why such incidents might occur. One of the major reason could be that the cheques that are issued by the entity were not shown in the bank, or there was no record kept for a credit transfer in the entity’ record book. Another reason could be that the bank or the entity has made an error.
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