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Please answer 4 and 5 multiple choices 4. HP Company needs to reconcile the bank and book balance to correct cash balance. The company identifies
Please answer 4 and 5 multiple choices
4. HP Company needs to reconcile the bank and book balance to correct cash balance. The company identifies that a late deposit on August 31 did not appear on the bank statement, $8,100. Which one of the following is a corret statement? a. Bank adds this amount as deposit in transit. b. Company adds this amount to its boks as collection of checks. c. Bank deducts this amount as outstanding checks. d. Company deducts this amount as error in recording checks. 5. Greenlight Company needs to reconcile the bank and book balance to correct cash balance. The company identifies that a comparison of the canceled checks with the the check register revealed that one check in the amount of $1,846 had been recorded in the books at $2,146. The check had been issued in payment of an account payable. Which one of the following is a correct statement? a. Company debits cash $300 and credits account payable$ 300. b. Company debits cash $ 1,846 and credits account payable $1,846. c. Company debits account payable $ 300 and credits cash $ 300. d. Company debits account payable by $ 2,146 and credits cash $ 2,146Step by Step Solution
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