Accountancy, asked by dharsh3502, 8 months ago

how to treat wrong credit by bank in adjusted cash book

Answers

Answered by ItzRiya07

Answer:

ADJUST THE BANK STATEMENTS

Adjust the balance on the bank statements to the corrected balance. For doing this, you must add deposits in transit, deduct outstanding checks and add/deduct bank errors. Deposits in transit are amounts that are received and recorded by the business but are not yet recorded by the bank.

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