A cheque cashed by the payee for $2,200 was recorded in the company's accounting records for $220. On a bank reconciliation:
A)$1,980 will be added to the book balance.
B)$1,980 will be deducted from the book balance.
C)$1,980 will be added to the bank balance.
D)$1,980 will be deducted from the bank balance.

Question

Quizplus · Accepted Answer

The Answer of A cheque cashed by the payee for $2,200 was recorded in the company's accounting records for $220. On a bank reconciliation:
A)$1,980 will be added to the book balance.
B)$1,980 will be deducted from the book balance.
C)$1,980 will be added to the bank balance.
D)$1,980 will be deducted from the bank balance.

A Cheque Cashed by the Payee for $2,200 Was Recorded