While Preparing the Bank Reconciliation for March,the Accountant for ABC

Multiple Choice

While preparing the bank reconciliation for March,the accountant for ABC Company discovered that a $694 check in payment of an account payable had been entered incorrectly in the journal as $649.Which of the following is true?

A) An adjusting entry must be made to debit Accounts Payable and credit Cash for $45.
B) An entry must be made to debit Cash and credit Accounts Payable for $45.
C) The bank should be notified, and the bank should correct its records by adding $45 to the company's account.
D) No entry is needed for the reconciling item because it appears on the bank's side of the reconciliation.