10. Company K has several checking accounts with Bank J. Which of the following will require adjustment in the accounting records of Company K on December 31, 2020? Check issued on December 29 but only cleared on January 2. Customer's check deposited on December 28 and reflected in the bank statement on December 29. Deposit of Company M on December 28 and credited by Bank J on the account of Company K on the same day. NSF check returned by Bank J to Company K on December 29.
10. Company K has several checking accounts with Bank J. Which of the following will require adjustment in the accounting records of Company K on December 31, 2020? Check issued on December 29 but only cleared on January 2. Customer's check deposited on December 28 and reflected in the bank statement on December 29. Deposit of Company M on December 28 and credited by Bank J on the account of Company K on the same day. NSF check returned by Bank J to Company K on December 29.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 11MC
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