The current month's bank statement for your account arrives in the mail. In reviewing the statement, you notice a deposit listed for $400 that you did not make. It has been credited in error to your account.   Discuss with your fellow classmates whether you have an ethical or legal obligation to inform the bank of the error. What action should you take?

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A: Solution:- Preparation of journal entries as follows under:-

Q: The accountant at Fidel Trading has received the November 2010 bank statement. She immediately…

A:

Q: The accountant at Fidel Trading has received the November 2010 bank statement. She immediately…

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A:

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A:

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Q: e total amount

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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.