(LO 7 2) Which party needs to adjust its cash balance once learning about the following reconciling items Reconciling Item Error Outstanding check NSF check Outstanding deposit Notes interest collected by the bank Bank service fees Who needs to adjust the cash balance Company (general ledger), Bank...

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(LO 7-2) Which party needs to adjust its cash balance once learning about the following reconciling items?...

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(LO 7-2) Which party needs to adjust its cash balance once learning about the following reconciling items?

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Introduction To Data Analytics For Accounting

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Authors: Vernon Richardson, Katie Terrell And Ryan Teeter

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(LO 7-2) Which party needs to adjust its cash balance once learning about the following reconciling items?...

Question:

Reconciling Item Error Outstanding check NSF check Outstanding deposit Notes/interest collected by the bank Bank service fees Who needs to adjust the cash balance? Company (general ledger), Bank, or Potentially Both Bank and Company

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Introduction To Data Analytics For Accounting

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