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QUICKBOOKS: You reconcile a clients bank account up to today and see that their Undeposited...

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Accounting

QUICKBOOKS:

You reconcile a clients bank account up to today and see that their Undeposited Funds account has a debit balance for today. The client has told you that all payments have been deposited.

What else will you likely find?

  • Overstated income
  • Understated expenses
  • Overstated accounts receivable
  • Post-dated Receive payments transactions

Answer & Explanation Solved by verified expert
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