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Canvas X 0 While completing a bank reconciliation, ABC Company noticed that check #500 had been recorded in the accounting records as a $53 payment
Canvas X 0 While completing a bank reconciliation, ABC Company noticed that check #500 had been recorded in the accounting records as a $53 payment to Sparkle Cleaning Co. while the bank statement showed the check as $35. Upon further investigation, ABC Company determined that check #500 was used to pay for $35 of cleaning supplies that were used immediately, but the entire transaction had been recorded at $53. Which one of the following journal entries is needed to correct this error? Account Supplies Expense Cash Debit 18 Credit Credit Account Cash Supplies Expense Debit 18 18 Credit Debit 53 Account Cash Supplies Expense 53 Credit Debit 53 53 Account Supplies Expense Cash Next Hisense Previous
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