When Reconciling the Ledger with the Bank Statement (Assuming a Positive

question 18

Multiple Choice

When reconciling the ledger with the bank statement (assuming a positive bank balance) a returned (dishonoured) cheque should be:

• A) subtracted from the general ledger bank balance.
• B) ignored as the bank will adjust the statement in the next period.
• C) subtracted from the bank statement balance.
• D) added to the bank statement balance in the reconciliation.

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