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notka56 [123]
1 year ago
10

If a check correclty written and paid by the bank is incorrectly recorded in the company;s's books for $794 how should this erro

r be treated on the bank reconcilliation
Business
1 answer:
worty [1.4K]1 year ago
6 0

If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794,  this error be treated on the bank reconciliation--- Subtract $45 from the book balance.

What is bank reconciliation?

Bank Reconciliation is an important process in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger. Preparing a bank reconciliation statement helps businesses to eliminate possible errors in transactions or bookkeeping

What is the journal entry for bank reconciliation?

The journal entries for the bank fees would debit Bank Service Charges and credit Cash. The journal entry for a customer's check that was returned due to insufficient funds will debit Accounts Receivable and will credit Cash.

Learn more about bank reconciliation :

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