Answered: red on the bank reconciliation did not…

red on the bank reconciliation did not require a journal entry? Select one: A. bank service charges B. deposits in transit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 9EA: Using the following information, prepare a bank reconciliation. Bank balance: $4,587 Book balance:...

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Which of the following items that appeared on the bank reconciliation did not require a journal entry?

Select one:

A. bank service charges

B. deposits in transit

C. Not sufficient funds(NSF) checks

D. a check for $630, recorded in the check register for $360

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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