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Question A company purchased inventory with a cheque, $500. This cheque was correctly processed and recorded by the Bank. However, the cheque was incorrectly recorded
Question A company purchased inventory with a cheque, $500. This cheque was correctly processed and recorded by the Bank. However, the cheque was incorrectly recorded in the company's books (Cr Cash) at $5,000. In the bank reconciliation statement, the company must: O add $4,500 to the Original balance of Cash at Bank account. O add $4,500 to the Balance as per Bank Statement. O deduct $4,500 from the Balance as per Bank Statement. O deduct $4,500 from the Original balance of Cash at Bank account.
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