A Bank Reconciliation Included an Outstanding Check of $1,300 for the Purchase

question 46

Multiple Choice

A bank reconciliation included an outstanding check of $1,300 for the purchase of supplies. The journal entry to record this reconciling item:

• A)should debit Supplies and credit Cash for $1,300.
• B)should debit Cash and credit Supplies for $1,300.
• C)should debit Accounts Receivable and credit Cash for $1,300.
• D)is not required.

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Definitions:

Chebysheff's Theorem

A statistical theorem that provides a minimum probability for the distribution of values within k standard deviations from the mean for any data set, regardless of the distribution's shape.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values from the average.

Standard Deviation

An indicator of the degree of variation or spread within a collection of numbers.

Variability

The extent to which data points in a data set differ from each other and from the mean.