Author Question: Receipts from cash sales of 3,200 were recorded incorrectly in the cash receipts journal as 2,300 . ... (Read 236 times)

casperchen82 · **on:** Jul 5, 2018

Receipts from cash sales of 3,200 were recorded incorrectly in the cash receipts journal as 2,300 . This itemwould be included on the bank reconciliation as a(n)
a. deduction from the balance per company's records
b. addition to the balance per bank statement
c. deduction from the balance per bank statement
d. addition to the balance per company's records

Question 2

If a company uses the indirect method of calculating cash from operating activities, its statement of cash flows begins with cash collected from customers.

Indicate whether the statement is true or false