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Alexus [3.1K]
2 years ago
13

f a check correctly written and paid by the bank for $352 is incorrectly recorded in the company's books for $299, how should th

is error be treated on the bank reconciliation?
Business
1 answer:
Alja [10]2 years ago
8 0

Add $53 to the book balance.

The book balance is the company's cash balance according to its accounting records. Your book balance may include transactions that have not yet been cleared or cleared from your bank account. At the end of the accounting period, the company's book inventory is reconciled with the bank balance via monthly account statements.

Posted book balance is the closing balance (posted funds) reported in the daily close (MT940). Depending on your sending bank's policy, this balance may include unbilled items. The Clearing Balance is the "true" interest-bearing balance available calculated on a given date book balance.

Learn more about book balance at

brainly.com/question/2853305

#SPJ4

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