A check was written by a business for $507 but was recorded in the journal as...
A check was written by a business for $507 but was recorded in the journal as $705. How would this error be included on the bank reconciliation?
Group of answer choices
an addition on the book side
an addition on the bank side
a deduction on the book side
a deduction on the bank side
Homework Answers
Answer : an addition on book side.
In Bank reconciliation
>> Wrong recorded check should be added and Correct check amount deducted.
>> Here net value = + $ 705 - $ 507 = + $ 198.
>> From above we can say that an addition on book side.
>> This transactions was adjusted in Company cash book reconciliation.
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