sing the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code letter in the space to the left of each item. Code A Add to cash balance per books Deduct from cash balance per books Add to cash balance per bank Deduct from cash balance per bank B C D E Does not affect the bank reconciliation Items: 1. Outstanding checks. 2. Bank service charge. 3. Check for $320 correctly written and paid by the bank but incorrectly entered in the cash payments journal for $230. 4. Deposit in transit.

sing the code letters below, indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code letter in the space to the left of each item. Code A Add to cash balance per books Deduct from cash balance per books Add to cash balance per bank Deduct from cash balance per bank B C D E Does not affect the bank reconciliation Items: 1. Outstanding checks. 2. Bank service charge. 3. Check for $320 correctly written and paid by the bank but incorrectly entered in the cash payments journal for $230. 4. Deposit in transit.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 2CE

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Similar questions

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