The Bank Statement of Mellon Company Shows an Overdraft of $10

question 50

Multiple Choice

The bank statement of Mellon Company shows an overdraft of $10 000 at 28 February. In reconciling the account at that date indicate how the company will treat cheque no. 4500 for $80 that was drawn on 25 February but had not yet been presented for payment.

• A) Record in the cash receipts journal.
• B) Record in the cash payments journal.
• C) Add to the bank statement balance in the bank reconciliation.
• D) Subtract from the bank statement balance in the bank reconciliation.

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