[mikhwan]

Hello sir.

As I was busy searching for explanation, I started to notice. When we carry down a balance, it is always carried down on to the opposite side.

So, the positive closing balance means when we carried down it will be on the right side which is negative right?

[mikhwan]

The Question: Test your understanding 3

On 1 Jan Elma Fudd’s bank account is overdrawn by $1, 367.

Payments in the year totalled $8, 536 and on 31 Dec the closing balance is $2,227(positive).

What are the total receipts for the year?

[Author]

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