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Question: A check drawn by a company for $340 in payment of liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)? a. addition to the balance per the company's records. b. addition to the balance per the bank statement. c. deduction from the balance per the bank statement. d. deduction from the balance per the company's records.

Question: A check drawn by a company for $340 in payment of liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)? a. addition to the balance per the company's records. b. addition to the balance per the bank statement. c. deduction from the balance per the bank statement. d. deduction from the balance per the company's records.

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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Question: A check drawn by a company for $340 in payment of liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)? a. addition to the balance per the company's records. b. addition to the balance per the bank statement. c. deduction from the balance per the bank statement. d. deduction from the balance per the company's records.
Transcribed Image Text:Question: A check drawn by a company for $340 in payment of liability was recorded in the journal as $430. This item would be included on the bank reconciliation as a(n)? a. addition to the balance per the company's records. b. addition to the balance per the bank statement. c. deduction from the balance per the bank statement. d. deduction from the balance per the company's records.
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