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Usimov [2.4K]
3 years ago
8

The bookkeeper mailed out a check for $450 to a vendor, but the check has not been cashed yet. How is this recorded in a bank re

conciliation?a)Noted as a memorandum only.b)Added to the book balance of cash.c)Deducted from the book balance of cash.d)Added to the bank balance of cash.e)Deducted from the bank balance of cash.
Business
1 answer:
stiks02 [169]3 years ago
8 0

Answer:

The answer is E.

Explanation:

This is known as unpresented cheque. A change that has been issued to a supplier but has not been cleared by the bank or paid by the bank.

This cheque has already been registered as an outflow on the balance per cash book. And in reconciling this with balance per bank statement, this amount of $450 should be deducted from the bank balance of cash. The business should assume the bank has paid it.

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