For Which of the Following Errors Should the Appropriate Amount

question 136

Multiple Choice

For which of the following errors should the appropriate amount be added to the balance per books on a bank reconciliation?

• A)Check written for $63, but recorded by the company as $36.
• B)Deposit of $600 recorded by the bank as $60.
• C)A returned $300 check recorded by the bank as $30.
• D)Check written for $57, but recorded by the company as $75.

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Definitions:

Collection Activities

Actions taken by businesses or agencies to collect debts owed by customers or clients.

Total Collection Time

The total amount of time taken to collect payments from customers from the point of sale to the actual receipt of funds.

Customer Cheques

Checks written by customers to pay for goods or services.

Monthly Statements

Financial reports that are issued at the end of each month detailing the financial activities, such as income and expenses, over the course of that month.