The following data were obtained from the bank statement and from the process of reconciling it: Bank service charges = $ 20
Deposit outstanding = $150
Interest earned on the bank account = $10
Checks outstanding = $400
Which items should be deducted from and added to the bank balance in completing the reconciliation?
A) Deduct checks outstanding;add service charges and deposit outstanding.
B) Deduct interest earned;add deposit outstanding.
C) Deduct checks outstanding;add deposit outstanding.
D) Deduct deposit outstanding;add checks outstanding.
Correct Answer:
Verified
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