In reconciling the September bank statement, the vice president discovered that the bookkeeper had recorded a check written for $438 as $483 in the cash disbursements journal. For the bank reconciliation, the $45 error should be:

Question

Quizplus · Accepted Answer

In order to reconcile to the bank statement, the $45 error should be added to the general ledger cash account balance, since $45 less was disbursed, than was recorded.

In Reconciling the September Bank Statement, the Vice President Discovered