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While Reconciling the Chequing Account,the Accountant Notices That an Error

question 48

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While reconciling the chequing account,the accountant notices that an error has been made in recording a cheque received by the company.The bookkeeper has recorded the receipt as $729,but the correct amount of the cheque is $279.Which of the following reconciling adjustments is necessary?

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Definitions:

Free Trade

An economic policy that allows goods and services to be traded across borders without tariffs, quotas, or other restrictions.

Banned in Boston

A phrase historically used to describe books, plays, or movies prohibited in Boston, Massachusetts, due to content deemed objectionable; reflects broader themes of censorship.

Book Ban

The act of censoring or prohibiting the printing, publishing, or circulating of books deemed objectionable or harmful by authorities, often for political, religious, or moral reasons.

Prohibition

A historical period in U.S. history during which the manufacture, sale, and transportation of alcohol were banned nationwide.

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