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

This error means the company's records are understated by the difference ($7,500 - $5,700 = $1,800). To correct this, you would add the difference to the company's records to match the actual cash sales amount.

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