A check payment for $658 was incorrectly entered in the Cash account as $856. Which of the following adjustments needs to be made? A. increase the book balance B. decrease the book balance C. decrease the bank statement balance D. increase the bank statement balance

A check payment for $658 was incorrectly entered in the Cash account as $856. Which of the following adjustments needs to be made? A. increase the book balance B. decrease the book balance C. decrease the bank statement balance D. increase the bank statement balance

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 1MC

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Question

A check payment for $658 was incorrectly entered in the Cash account as $856. Which of the following adjustments needs to be made?

increase the book balance

decrease the book balance

decrease the bank statement balance

increase the bank statement balance

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