In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $170 but was erroneously entered in the accounting records as $701. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? Multiple Choice $371 increase to Cash and a $471 decrease to Utility Expense. $531 increase to Cash and a $531 decrease to Utility Expense. $701 increase to Cash. $371 decrease to Cash and a $371 decrease to Utility Expense. $531 decrease to Cash and a $531 decrease to Utility Expense.