[Solved] While Reconciling the Checking Account, an Accountant with Sonic Corporation
While reconciling the checking account, an accountant with Sonic Corporation noticed that an error had been made in recording a check received by the company. Sonic recorded the receipt as $729 and the correct amount of the check was $279. What reconciling adjustment is required?
A) Add $450 to the company's book balance
B) Deduct $450 from the company's book balance
C) Add $450 to the bank statement balance
D) Deduct $450 from the bank statement balance
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