Answered

Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

When reconciling the bank statement at the end of January, it is discovered that a credit card payment received from a customer on January 3 did not hit the bank. To complete the reconciliation-
A) Record the missing payment on the reconciliation as a deposit in transit and hope the transaction hits the bank in a subsequent month
B) Prepare a journal entry to debit income and credit cash
C) Write off the missing payment to bad debts
D) Adjust cash and accounts receivable pending investigation and contact the bank

Sagot :

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. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.