The bank statement reveals an EFT received from a customer that has not yet been recorded in the journal.How would this information be included on the bank reconciliation?
A) an addition on the bank side
B) a deduction on the bank side
C) a deduction on the book side
D) an addition on the book side

Question

Quizplus · Accepted Answer

Since the EFT received from the customer has not yet been recorded in the journal, it means it is not yet reflected in the company's books. Therefore, it should be added to the book side of the bank reconciliation as an adjustment to the balance per books. This will ensure that the company's records are accurate and up-to-date.

The Bank Statement Reveals an EFT Received from a Customer