Add Deduct Add To BOOK Balance Deduct From BANK Balance From To BOOK Balance BANK Balance By mistake, the bank charged your bank account for another company's bank fees. 2 Fee charged by bank for returned check. A company had a receipt of S989 and correctly prepared its bank deposit_slip for $989. However, the company 3 recorded the receipt in its Cash account as S998. How is the difference of $9 handled on the bank reconciliation? The bank collected a Note Receivable for the company and credited the company's bank account for $1,000. Deposit in transit.
Add Deduct Add To BOOK Balance Deduct From BANK Balance From To BOOK Balance BANK Balance By mistake, the bank charged your bank account for another company's bank fees. 2 Fee charged by bank for returned check. A company had a receipt of S989 and correctly prepared its bank deposit_slip for $989. However, the company 3 recorded the receipt in its Cash account as S998. How is the difference of $9 handled on the bank reconciliation? The bank collected a Note Receivable for the company and credited the company's bank account for $1,000. Deposit in transit.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
see the image
![Add
Deduct
Add
Deduct
To
From
To
From
BANK
Balance
BOOK
BOOK
BANK
Balance
Balance
Balance
By mistake, the bank charged your bank account for
another company's bank fees.
| 1
2
Fee charged by bank for returned check.
A company had a receipt of S989 and correctly prepared
its bank deposit slip for S989. However, the company
recorded the receipt in its Cash account as S998. How is
the difference of $9 handled on the bank reconciliation?
The bank collected a Note Receivable for the company
and credited the company's bank account for $1,000.
Deposit in transit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1c0f8925-c585-4eef-aa4b-5935db7a54bd%2F39202d7c-49cb-4101-b7c1-159976ce569c%2Fmn0v6jq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Add
Deduct
Add
Deduct
To
From
To
From
BANK
Balance
BOOK
BOOK
BANK
Balance
Balance
Balance
By mistake, the bank charged your bank account for
another company's bank fees.
| 1
2
Fee charged by bank for returned check.
A company had a receipt of S989 and correctly prepared
its bank deposit slip for S989. However, the company
recorded the receipt in its Cash account as S998. How is
the difference of $9 handled on the bank reconciliation?
The bank collected a Note Receivable for the company
and credited the company's bank account for $1,000.
Deposit in transit.
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