Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If I receive a deposit of R30 000, that means it is money received and recorded in the bank account of the general ledger. If

If I receive a deposit of R30 000, that means it is money received and recorded in the bank account of the general ledger.

If that deposit did not appear on the bank statement at the end of the month, will it be recorded in the bank reconciliation statement? Or should it first be recorded in the cash receipts journals? I tend to think that it is a reconciling item in the bank reconciliation statement. Any input will be appreciated. Thank you.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Richard Baker, Valdean Lembke, Thomas King, Cynthia Jeffrey

8th Edition

73526916, 978-0073526911

More Books

Students also viewed these Accounting questions

Question

The number of new ideas that emerge

Answered: 1 week ago

Question

Technology

Answered: 1 week ago