If receipts from cash sales of $7,500 were recorded incorrectly as $5,700 in the company's books, then this item would be included on the bank reconciliation as a(n)

Question

Quizplus · Accepted Answer

The error in recording the cash sales too low means the company's records show less cash than actually exists. Correcting this error involves adding the difference ($7,500 - $5,700 = $1,800) to the balance per the company's records to match the actual cash amount.

If Receipts from Cash Sales of $7,500 Were Recorded Incorrectly