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During the month of July, Clanton Industries issued a check in the amount of $967 to a supplier on account. The check did not clear
During the month of July, Clanton Industries issued a check in the amount of $967 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should:
Multiple Choice
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Deduct the check amount from the book balance of cash.
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Add the check amount to the book balance of cash.
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Deduct the check amount from the bank balance.
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Add the check amount to the bank balance.
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Make a journal entry in the company records for an error.
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