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The accountant for the World Company discovered Central Bank had made an error on Worlds August 31 bank statement. The bank balance read $8,728, while
The accountant for the World Company discovered Central Bank had made an error on Worlds August 31 bank statement. The bank balance read $8,728, while the book balance showed $6,998. The accountant found that an August 23 check for $1,250 did not appear on the bank statement (thus representing an outstanding check). If this check is the only reconciling item, how much is the amount of the bank error?
a) 2,980
b) 1,250
c) 480
d) 1,730
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