If a check correctly written and paid by the bank for $624 is incorrectly recorded on the company's books for $642, the appropriate treatment on the bank reconciliation would be to

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15-06-2022
Business

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If a check correctly written and paid by the bank for $624 is incorrectly recorded on the company's books for $642, the appropriate treatment on the bank reconciliation would be to

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vtalishathapar vtalishathapar · Answer 1 · 2022-06-24T15:34:13+02:00

In, the books of company credit the bank account with an excess of amount $18. Now, the company should Debit the bank account with an amount of $18 in his books.

What is Bank Reconciliation?

Bank Reconciliation is a vital procedure in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger.

Thus, the company should Debit the bank account in his book with an amount of $18 in his books to reconcile the bank statement.

Learn more about Bank Reconciliation here:

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