Dooley Company sent a deposit of $4000 to the bank. The bank credited Dooley Company's checking account for a deposit of $400. In reconciling the bank statement, the bookkeeper saw the deposit of $400. Which journal entry should Dooley Company prepare?
A) Debit Cash for $3600 and credit Deposits fo $3600.
B) Debit Cash for $3600 and credit Revenue for $3600.
C) Debit Cash for $3600 and credit Accounts Receivable for $3600.
D) No journal entry is required.
Correct Answer:
Verified
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