If a check correctly written and paid by the bank for $541 is incorrectly recorded on the company’s books for $514, the appropriate treatment on the bank reconciliation would be to add $27 to the book’s balance. subtract $27 from the book’s balance. deduct $27 from the bank’s balance. deduct $541 from the book’s balance.
If a check correctly written and paid by the bank for $541 is incorrectly recorded on the company’s books for $514, the appropriate treatment on the bank reconciliation would be to add $27 to the book’s balance. subtract $27 from the book’s balance. deduct $27 from the bank’s balance. deduct $541 from the book’s balance.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 2CE
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If a check correctly written and paid by the bank for $541 is incorrectly recorded on the company’s books for $514, the appropriate treatment on the bank reconciliation would be to
add $27 to the book’s balance.
subtract $27 from the book’s balance.
deduct $27 from the bank’s balance.
deduct $541 from the book’s balance.
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