When you identify interest received from the bank in performing a bank reconciliation,you must:
A)add the amount of interest to the balance per bank.
B)deduct the amount of interest from the balance per books.
C)add the amount of interest to the balance per books.
D)deduct the amount of interest from the balance per bank.

Question

Quizplus · Accepted Answer

Interest received from the bank increases the company's account balance, but this increase may not yet be recorded in the company's books. Therefore, to reconcile the bank statement with the company's records, the amount of interest received should be added to the balance per books.

When You Identify Interest Received from the Bank in Performing