A bank collected $200 on behalf of its customer. The $200 should appear on the bank reconciliation as:
A)added to the bank balance.
B)added to the book balance.
C)deducted from the book balance.
D)having no impact on the book balance.

Question

Quizplus · Accepted Answer

The $200 collected by the bank on behalf of the customer should be added to the book balance because it represents funds that the bank has received but the customer has not yet recorded in their books.

A Bank Collected $200 on Behalf of Its Customer