If a Bank Reconciliation Included Deposits in Transit Amounting to $3,700

question 22

Multiple Choice

If a bank reconciliation included deposits in transit amounting to $3,700, the journal entry to record this reconciling item should:

• A)debit Deposit in Transit and credit Cash for $3,700.
• B)debit Accounts Receivable and credit Cash for $3,700.
• C)debit Cash and credit Deposit in Transit for $3,700.
• D)No entry is required.

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Definitions:

Disaccharide

A sugar produced by covalently linking two monosaccharides (e.g., maltose or sucrose).

Monosaccharides

Simple sugars that are the most basic form of carbohydrates, serving as the building blocks for more complex sugars and providing immediate energy for cells.

Glycosidic Bond

A covalent bond that joins a carbohydrate molecule to another molecule, which may be another carbohydrate or a different type of molecule.

Hydroxyl Group

Polar functional group; abbreviated —OH.