gin Guts Try to identify which items are causing the two balances to be different even after the bank statement has been checked against the cash book and the necessary additional entries have been made in the cash book, (Hint: there are two items involved.) You can sce that two items arc in the cash book but are not shown on the bank statement. These are: (i) A cheque had been paid to M Peck on January 30. He deposited it in his bank on January 31 but his bank didn’t collect the money from the business’s bank until February 2. This is Although a cheque for £470 was received from J Soames on January 31 and the business deposited it with the bank on that date, the bank did not reccive the funds from Soames’ bank oe February. The cash book balance on January 31 was £600, whereas the bank statement shows a balance of £330. To prove that although the balances are different they can be ‘reconciled’ (i.e. made to 359