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

question 137

Multiple Choice

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

• A)should debit Deposit in Transit and credit Cash for $3,700.
• B)should debit Cash and credit Deposit in Transit for $3,700.
• C)should debit Accounts Receivable and credit Cash for $3,700.
• D)is not required.

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Definitions:

Deindividuation

A psychological state characterized by diminished self-consciousness, decreased sense of personal responsibility, and disinhibition, often occurring in group settings.

Running Amok

A behavioral phenomenon involving sudden outbursts of uncontrollable aggression or violence.

Antisocialization

A process through which individuals learn behaviors and attitudes that are against societal norms, leading to negative social outcomes.

Injunctive Norms

Norms that specify what most others approve or disapprove of.