A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n) a.deduction from the balance per the bank statement b.addition to the balance per the company's records c.deduction from the balance per the company's records d.addition to the balance per the bank statement

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
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A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)
a.deduction from the balance per the bank statement
b.addition to the balance per the company's records
c.deduction from the balance per the company's records
d.addition to the balance per the bank statement
 
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Bank reconciliation statement refers to a financial statement which showcases a detailed summary of banking and business activity which reconciles an entity's bank account with its financial records for a particular period of time. It is a useful financial statement with internal control tool used to thwart any frauds.

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