Multiple Choice
If a bank reconciliation included a deposit in transit of $1,240,the company's journal entry for this reconciling item would include:
A) nothing,because the deposit has already been recorded.
B) a debit to Cash of $1,240.
C) a credit to Cash of $1,240.
D) a credit to Accounts Receivable for $1,240.
Correct Answer:
Verified
Correct Answer:
Verified
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