When preparing this month's bank reconciliation,you find that you failed to record a $95 deposit for a payment you received from a customer.You immediately prepare a journal entry to record the deposit.Which of the following describes the actions to be taken when preparing next month's bank reconciliation?
A) You must decrease the balance per bank by $95
B) You must increase the balance per bank by $95
C) You must increase the balance per books by $95
D) No further action is necessary.

Question

Quizplus · Accepted Answer

Since the deposit has already been recorded in the books with the journal entry, no further action is necessary for the next month's bank reconciliation.

When Preparing This Month's Bank Reconciliation,you Find That You Failed