A Check Correctly Written for $270 Was Incorrectly Entered in the Cash

question 7

Short Answer

A check correctly written for $270 was incorrectly entered in the cash payments journal for $720. In preparing a bank reconciliation, $_____________ must be ______________ the cash balance per ______________.

---

Definitions:

Efficiency

Efficiency refers to the ability to accomplish a task or produce a desired outcome with the minimum amount of waste, expense, or unnecessary effort.

Goals and Tasks

Objectives that an organization or individual plans to achieve, along with the specific actions required to attain them.

Resources Available

The assets, materials, and other supplies that are readily accessible and can be used to achieve goals or complete tasks.

High Profit

A significant amount of earnings exceeding the costs and expenses of operating a business or investment.