Question
In preparing its may 31 2020 bank reconciliation harry co. discovered that a check received from a customer for $150 was recorded as $105 by
In preparing its may 31 2020 bank reconciliation harry co. discovered that a check received from a customer for $150 was recorded as $105 by the company's bookkeeper. additionally, the amount written on the deposit slip when the check was deposited to the company's account at Hogsmeade Bank was $105. consequently, the bank also erroneously recorded the deposit as $105. the journal entry that is required from this reconciling item includes which of the following?
a. no journal entry is required for harry.co
b. a credit cash of $150
c. a debit cash of $150
d. a credit cash of $45
e. a debit cash of $45
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