A firm wrote a check for $78 but entered the amount as payment of $87 in its records. On a bank reconciliation statement this error would be shown as:

Name: A firm wrote a check for $78 but entered the amount as payment of $87 in its records. On a bank reconciliation statement this error would be shown as:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The firm overrecorded the payment by $9 ($87 recorded - $78 actual = $9), so to correct this, $9 should be added back to the book balance to match the actual amount spent.

A Firm Wrote a Check for $78 but Entered the Amount