During the month of July, Clanton Industries issued a check in the amount of $845 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should: Multiple Choice Deduct the check amount from the book balance of cash. Add the check amount to the book balance of cash. Deduct the check amount from the bank balance. Add the check amount to the bank balance. Make a journal entry in the company records for an error.

During the month of July, Clanton Industries issued a check in the amount of $845 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should: Multiple Choice Deduct the check amount from the book balance of cash. Add the check amount to the book balance of cash. Deduct the check amount from the bank balance. Add the check amount to the bank balance. Make a journal entry in the company records for an error.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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