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Use the following to answer questions 5 - 8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or
Use the following to answer questions 5 - 8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or the company balance. Use the number (1-4) for your response. For instance, if the amount should be added to bank statement balance you would input 1. 1. Added to bank statement balance 2. Subtracted from bank statement balance 3. Added to company cash balance 4. Subtracted from company cash balance | 5 Item | Bank error, company deposited $400 and the bank recorded $40 Bank service charges Bank collected a note receivable for the company Company error, wrote a check for $100 but recorded it for $1,000 | 7 8
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