daniela3244
Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

The bank collected $1,500 for the company from the company's client. On a bank reconciliation, this would be shown as a(n)
A. increase in the ledger cash account balance (book balance)
B. decrease in the bank account balance
C. decrease in the ledger cash account balance (book balance)
D. increase in the bank account balance

Sagot :

Samawati

Answer:

A. increase in the ledger cash account balance (book balance)

Explanation:

The bank collected $1500 from the customer on behalf of the company. The amount was posted to the customer's account, increasing the company's bank balance by $1500. When the bank generates the customer's statement, the collected amount will reflect in the customer statement increasing it by $1500.

To reconcile the customer bank statements, and the customer's ledger, the amount of $1500 will have to be added to the customer's cash balance.

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.