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If a check correctly written and paid by the bank for $472 is incorrectly recorded...

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Question

Accounting

If a check correctly written and paid by the bank for $472 is incorrectly recorded in the company's books for $407, how should this error be treated on the bank reconciliation?

Multiple Choice

  • Subtract $65 from the bank's balance and add $65 to the book's balance.

  • Subtract $65 from the book balance.

  • Add $65 to the bank's balance.

  • Subtract $65 from the bank's balance.

  • Add $65 to the book balance.

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