A $575 collection on a note from a customer was reflected on Ronaldo Co's bank statement. When doing the bank reconciliation, Ronaldo Co. should:
A) add $575 to the bank balance.
B) subtract $575 from the bank balance.
C) add $575 to their book balance.
D) subtract $575 from their book balance.
Correct Answer:
Verified
Q22: Cash equivalents may include money orders and
Q23: Cash equivalents are:
A)very liquid and carry high
Q24: The bank recorded a $49 deposit as
Q25: Cash is listed first on the Balance
Q26: Each cash account is listed separately on
Q28: Leo's Leather Shoppe has a checking account
Q29: Northwest Plumbing's bank statement shows a bank
Q30: Cash consists of anything that a bank
Q31: Deposits in transit are:
A)subtracted from the book
Q32: After a bank reconciliation is prepared, journal
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