Customer A/R collections by a bank via EFT (electronic funds transfer) should appear in which section of a bank statement reconciliation? Addition to the balance per bank Subtraction from the balance per bank Addition to the balance per books Subtraction from the balance per books
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Bank reconciliation is the process of matching the balance of a company's cash account with the balance reported by the bank. Discrepancies arise due to timing differences (e.g., deposits in transit, outstanding checks) and errors. Show more…
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