could you tell me how to get the right answer ? In completing the October 20 Tim
ID: 2778715 • Letter: C
Question
could you tell me how to get the right answer ?
In completing the October 20 Times 3 bank reconciliation, the following information is available: Cheques 435 and 488 totalling $821 were written in October but were not returned with the bank statement Bank service charges amounted to $35. A note plus interest was collected by the bank on the companys behalf in the amount of $10,800 (principal $10,000, interest $800). The company had written a cheque to settle an accounts payable with Paper Ltd. The cheque was correctly made out in the amount of $450; however, the companys bookkeeper had recorded it as $540. The cheques totalling $821 that were written but not returned with the bank statement would be reflected on the bank reconciliation as which of the following?Explanation / Answer
Answer: Decrease to balance per bank
Because $821 is deducted in the books.
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