Question
If a check correctly written and paid by the bank for $491 is incorrectly recorded on the companys books for $419, why is the appropriate
| If a check correctly written and paid by the bank for $491 is incorrectly recorded on the companys books for $419, why is the appropriate treatment on the bank reconciliation to subtract $72 from the book's balance? Would that not understate the company's books by making the balance per books amount even smaller than the balance per bank? |
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Global Accounting And Control A Managerial Emphasis
Authors: Sidney J. Gray, Stephen B. Salter, Lee H. Radebaugh
1st Edition
0471128082, 978-0471128083
