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While Reconciling Swanson Company's Bank Statement an Error Was Discovered

Question 151

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While reconciling Swanson Company's bank statement an error was discovered. A $394 cash receipt for the collection of an account receivable was recorded in the company's books as $349. The deposit was recorded correctly by the bank. While reconciling Swanson Company's bank statement an error was discovered. A $394 cash receipt for the collection of an account receivable was recorded in the company's books as $349. The deposit was recorded correctly by the bank.

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