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Item 14If a check correctly written and paid by the bank for $272 is incorrectly recorded in the company's books for $227, how should this error be treated on the bank reconciliation

Sagot :

Zvikoidn

Answer:

Reduce the Cash Book Balance by $45

Explanation:

The Cash Book Balance will be  $45 too much  (overstated) and should be reduced. Thus, this error be treated on the bank reconciliation by reducing the Cash Book Balance by $45.

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