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TSLA Co. found that the receipt of a check from a customer was properly recorded in th accounting records for $7,426 but improperly credited by the bank in the amount of $4,726. When preparing that month's bank reconciliation, the company should: Add $2,700 to the bank statement balance of cash. Add $2,700 to the book balance of cash. Oeduct $2,700 from the book balance of cash O Deduct $2,700 from the bank statement balance of cash.

TSLA Co. found that the receipt of a check from a customer was properly recorded in th accounting records for $7,426 but improperly credited by the bank in the amount of $4,726. When preparing that month's bank reconciliation, the company should: Add $2,700 to the bank statement balance of cash. Add $2,700 to the book balance of cash. Oeduct $2,700 from the book balance of cash O Deduct $2,700 from the bank statement balance of cash.

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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TSLA Co. found that the receipt of a check from a customer was properly recorded in th accounting records for $7,426 but improperly credited by the bank in the amount of $4,726. When preparing that month's bank reconciliation, the company should: Add $2,700 to the bank statement balance of cash. Add $2,700 to the book balance of cash. educt $2,700 from the book balance of cash O Deduct $2,700 from the bank statement balance of cash.
Transcribed Image Text:TSLA Co. found that the receipt of a check from a customer was properly recorded in th accounting records for $7,426 but improperly credited by the bank in the amount of $4,726. When preparing that month's bank reconciliation, the company should: Add $2,700 to the bank statement balance of cash. Add $2,700 to the book balance of cash. educt $2,700 from the book balance of cash O Deduct $2,700 from the bank statement balance of cash.
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