Dooley Company sent a deposit of $7,000 to the bank.The bank credited Dooley Company's checking account for a deposit of $700.In reconciling the bank statement,the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000.Which journal entry should Dooley Company prepare?
A) Debit Cash for $6,300 and credit Deposits fo $6,300.
B) Debit Cash for $6,300 and credit Revenue for $6,300.
C) Debit Cash for $6,300 and credit Accounts Receivable for $6,300.
D) No journal entry is required.
Correct Answer:
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