A check issued to a creditor in the amount of $35 was recorded in the journal as $350. In the bank reconciliation, the correction would be recorded as a(n)

Name: A check issued to a creditor in the amount of $35 was recorded in the journal as $350. In the bank reconciliation, the correction would be recorded as a(n)
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Question

Quizplus · Accepted Answer

The error was made in the company's books, not by the bank. Therefore, the correction should be made to the ledger balance of cash by adding back the excess amount recorded ($315).

A Check Issued to a Creditor in the Amount of $35