Dooley Company sent a deposit of $7,000 to the bank. The bank credited Dooley Company's checking account for a deposit of $700. In reconciling the bank statement, the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000. Which journal entry should Dooley Company prepare?
Dooley Company sent a deposit of $7,000 to the bank. The bank credited Dooley Company's checking account for a deposit of $700. In reconciling the bank statement, the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000. Which journal entry should Dooley Company prepare?
Chapter8: Budgets And Bank Reconciliations
Section: Chapter Questions
Problem 1.10C
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Question
Dooley Company sent a deposit of
$7,000
to the bank. The bank credited Dooley Company's checking account for a deposit of
$700.
In reconciling the bank statement, the bookkeeper saw the deposit of
$700
instead of the bank recording it at
$7,000.
Which
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