While preparing the bank reconciliation for March, the accountant for Bertran Industries discovered that a $649 check in payment of an account payable had been entered incorrectly in the journal as $694. Which of the following is true? Multiple Choice An adjusting entry must be made to debit Cash and credit Accounts Payable for $45 An adjusting entry must be made to debit Accounts Payable and credit Cash for $45 The bank should be notified, and the bank should correct its records by adding $45 to the company's account. No entry is needed for the reconciling item because it appears on the bank's side of the reconciliation