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If a Bank Reconciliation Included a Credit Memo for a $2,000

Question 32

Multiple Choice

If a bank reconciliation included a credit memo for a $2,000 note collected with an additional $20 of interest revenue, the entry to record this reconciling item would include a:


A) credit to note receivable for $2,020.
B) credit to cash for $2,020.
C) debit to cash for $2,020.
D) No entry is required.

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