Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

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. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.