Company's year end is 30th November 20X2. The company pays for its electricity by standing order at £1,200 per month. On 1st December 20X1, the statement from the electricity supplier showed that the company had overpaid by £400. The company received four electricity bills for the quarters commencing 1st December 20X1 and ending on 30 November 20X2 for £2,600, £2,800, £4,200 and £4,000. Which of the following is the correct balance owing on the electricity supplier's account as at 30th November 20X2?
A) Overpayment of £400
B) Overpayment of £800
C) Over payment of £1,200
D) Underpayment of £400
Correct Answer:
Verified
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