Abankreconciliationincludedanoutstandingcheckof$850forthepaymentofsalaries.Thejournalentrytorecordthisreconcilingitem:
A. shoulddebitsalariesexpenseandcreditcashfor$850
B. shoulddebitcashandcreditsalariesexpensefor$850
C. shoulddebitaccountspayableandcreditcashfor$850
D. isnotrequired.
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Inabankreconciliation,abankcollectionofanotereceivableis:
A. addedtothebankbalance
B. deductedfromthebankbalance
C. addedtothebookbalance
D. deductedfromthebookbalance
Inabankreconciliation,interestrevenueis:
A. addedtothebankbalance
B. deductedfromthebankbalance
C. addedtothebookbalance
D. deductedfromthebookbalance
Ifabankstatementincludedabankcollectionandrelatedinterestrevenue,thejournalentrytorecordthisreconcilingitemshouldincludea:
A. debittoCash
B. credittoCash
C. debittoNoteReceivable
D. debittoNotePayable
Beforepayinganinvoiceforgoodsreceivedonaccount,thecontrollerortreasurershouldensurethat
A. thecompanyispayingforthegoodsitordered.
B. thecompanyispayingforthegoodsitactuallyreceived
C. thecompanyhasnotalreadypaidthisinvoice.
D. allofthem
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