a $1,000 note from one of your customers was collected by the bank
A)added to the company's books
B)subtracted from the company's books
C)added to the bank statement balance
D)subtracted from the bank statement balance

Question

Quizplus · Accepted Answer

The $1,000 note collected by the bank should be added to the company's books because it represents an increase in the company's cash balance that has not yet been recorded in the company's accounting records.

A $1,000 Note from One of Your Customers Was Collected