Q5-55. If a bank reconciliation included a deposit in transit of $780, the entry to record this

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Q5-55. If a bank reconciliation included a deposit in transit of $780, the entry to record this reconciling item would include

a. a debit to cash for $780.

c. a credit to prepaid insurance for $780.

b. a credit to cash for $780.

d. Nothing, as no entry is required.

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 25, 2024 09:01 AM

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Q5-55. If a bank reconciliation included a deposit in transit of $780, the entry to record this

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Financial Accounting International Financial Reporting Standards Global Edition

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