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In a bank reconciliation, to adjust for the bank's deducting $980 for a company check that you wrote and booked for $890 requires: O reducing the bank balance by $90 O reducing the book balance by $90 O increasing the bank balance by $90

In a bank reconciliation, to adjust for the bank's deducting $980 for a company check that you wrote and booked for $890 requires: O reducing the bank balance by $90 O reducing the book balance by $90 O increasing the bank balance by $90

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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Please answer these 2 questions 

In a bank reconciliation, to adjust for the bank's deducting $980 for a company check that you wrote and booked for $890 requires: O reducing the bank balance by $90 O reducing the book balance by $90 increasing the bank balance by $90 O increasing the book balance by $90
Transcribed Image Text:In a bank reconciliation, to adjust for the bank's deducting $980 for a company check that you wrote and booked for $890 requires: O reducing the bank balance by $90 O reducing the book balance by $90 increasing the bank balance by $90 O increasing the book balance by $90
Your company writes a check for $123 but records it as $132. To adjust for this in a bank reconciliation, you would: reduce the book balance by $9 O reduce the bank balance by $9 O increase the bank balance by $9 O increase the book balance by $9
Transcribed Image Text:Your company writes a check for $123 but records it as $132. To adjust for this in a bank reconciliation, you would: reduce the book balance by $9 O reduce the bank balance by $9 O increase the bank balance by $9 O increase the book balance by $9
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