If the bank mistakenly recorded a $29 payment as $92, the error would be shown on the bank reconciliation as a:
A)$63 addition to the bank balance.
B)$92 deduction from the bank balance.
C)$92 addition to the bank balance.
D)$63 deduction from the bank balance.

Question

Quizplus · Accepted Answer

The error would be corrected by adding $63 to the bank balance, as the bank subtracted $92 instead of the correct amount of $29, overestimating the deduction by $63.

If the Bank Mistakenly Recorded a $29 Payment as $92