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If a check correctly written and paid by the bank for $584 is incorrectly recorded on the company's books for $548, the appropriate treatment on the bank reconciliation would be to: A) deduct $36 from the book's balance. B) add $36 to the book's balance. C) deduct $36 from the bank's balance. D) deduct $584 from the book's balance

If a check correctly written and paid by the bank for $584 is incorrectly recorded on the company's books for $548, the appropriate treatment on the bank reconciliation would be to: A) deduct $36 from the book's balance. B) add $36 to the book's balance. C) deduct $36 from the bank's balance. D) deduct $584 from the book's balance

FINANCIAL ACCOUNTING
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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If a check correctly written and paid by the bank for $584 is incorrectly recorded on the company's books for $548, the appropriate treatment on the bank reconciliation would be to: A) deduct $36 from the book's balance. B) add $36 to the book's balance. C) deduct $36 from the bank's balance. D) deduct $584 from the book's balance
Transcribed Image Text:If a check correctly written and paid by the bank for $584 is incorrectly recorded on the company's books for $548, the appropriate treatment on the bank reconciliation would be to: A) deduct $36 from the book's balance. B) add $36 to the book's balance. C) deduct $36 from the bank's balance. D) deduct $584 from the book's balance
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