Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assuming that the bank balance is not in overdraft, and you are reconciling the Cash at bank account balance with the bank statement, the proper
Assuming that the bank balance is not in overdraft, and you are reconciling the Cash at bank account balance with the bank statement, the proper procedure for the dishonoured cheque is to:
Question Select one:
Deduct it from the general ledger bank balance.
Subtract it from the bank statement balance.
Add it to the general ledger bank balance.
Add it to the bank statement balance in the reconciliation.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started