In the reconciliation process, a note collected by the bank should be?
A) added to the register balance
B) added to the bank statement balance
C) deducted from the bank statement balance
D) deducted from the register balance

Question

Quizplus · Accepted Answer

A note collected by the bank should be added to the register balance because it represents funds that have been deposited into the account but not yet recorded in the company's books.

In the Reconciliation Process, a Note Collected by the Bank