Horton Corporation is preparing a bank reconciliation and has identified the following potential reconciling items. For each
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Horton Corporation is preparing a bank reconciliation and has identified the following potential reconciling items. For each item, indicate if it is (1) added to balance per bank statement, (2) deducted from balance per bank statement, (3) added to balance per books, or (4) deducted from balance per books.
(a) Deposit in transit $5,500.
(b) Bank service charges $25.
(c) Interest credited to Horton’s account $31.
(d) Outstanding checks $7,422.
(e) NSF check returned $377.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For 
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
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