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If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $45 from the bank's balance and add $45 to the book's balance. Add $45 to the bank's balance. Subtract $45 from the bank's balance. Add $45 to the book balance. Subtract $45 from the book balance. O O O

If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $45 from the bank's balance and add $45 to the book's balance. Add $45 to the bank's balance. Subtract $45 from the bank's balance. Add $45 to the book balance. Subtract $45 from the book balance. O O O

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 2CE
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If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $45 from the bank's balance and add $45 to the book's balance. Add $45 to the bank's balance. Subtract $45 from the bank's balance. Add $45 to the book balance. Subtract $45 from the book balance.
Transcribed Image Text:If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $45 from the bank's balance and add $45 to the book's balance. Add $45 to the bank's balance. Subtract $45 from the bank's balance. Add $45 to the book balance. Subtract $45 from the book balance.
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