Your Company Writes a Cheque for $857

question 42

Multiple Choice

Your company writes a cheque for $857.Which of the following describes how this transaction should be accounted for?

• A)You add $857 to your recorded cash balance and the bank deducts $857 from your chequing account balance.
• B)You deduct $857 from your recorded cash balance and the bank deducts $857 from your chequing account balance.
• C)You add $857 to your recorded cash balance and the bank adds $857 to your chequing account balance.
• D)You deduct $857 from your recorded cash balance and the bank adds $857 to your chequing account balance.

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