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    selenazhang8888's Avatar
    selenazhang8888 Posts: 1, Reputation: 1
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    #1

    Oct 16, 2008, 05:01 PM
    Add or deduct an error in bank reconciliation
    The check written by a company was recorded on the books as $470, but it cleared the bank at the correct amount the check was made out for of $4700. I thought the ans should be add the book balance 4230. However the ans deduct in book balance 4230.
    WHY is that?? :confused:
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 18, 2008, 12:43 PM

    Your Book Balance is over stated by $4,230. So you have to deduct the $4,230 to get to the correct Book Balance.
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