If a check correctly written and paid by the bank for $328 is incorrectly recorded in...
If a check correctly written and paid by the bank for $328 is incorrectly recorded in the company's books for $382, how should this error be treated on the bank reconciliation?
Multiple Choice
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Subtract $54 from the bank's balance and add $45 to the book's balance.
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Subtract $54 from the bank's balance.
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Add $54 to the bank's balance.
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Add $54 to the book balance.
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Subtract $54 from the book balance.
Homework Answers
The amount has been correctly recorded by the bank, the error of 382-328 i.e. $54 in the books of the company.
The company has recorded the payments of $54 extra. Hence, while reconciling, the amount will be added back to the balance in the books
Hence, the correct answer is
Add $54 to the book balance
Add Answer to:
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