The journal entries for a bank reconciliationa. are taken from the "balance per bank" section only.b. may include a debit to Office Expense for bank service charges.C. may include a credit to Accounts Receivable for an NSF check.d. may include a debit to Accounts Payable for an NSF check.

A bank reconciliation is a statement that is prepared to match the bank balance as per the books of…

The journal entries for a bank reconciliation . are taken from the "balance per bank" section only. .may include a debit to Office Expense for bank service charges . may include a credit to Accounts Receivable for an NSF check include a debit to Accounts Payable for an NSF check. may

The journal entries for a bank reconciliation . are taken from the "balance per bank" section only. .may include a debit to Office Expense for bank service charges . may include a credit to Accounts Receivable for an NSF check include a debit to Accounts Payable for an NSF check. may

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

The journal entries for a bank reconciliation
a. are taken from the "balance per bank" section only.
b. may include a debit to Office Expense for bank service charges.
C. may include a credit to Accounts Receivable for an NSF check.
d. may include a debit to Accounts Payable for an NSF check.

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