Answered

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When reconciling the bank statement at the end of January, it is discovered that a credit card payment received from a customer on January 3 did not hit the bank. To complete the reconciliation-
A) Record the missing payment on the reconciliation as a deposit in transit and hope the transaction hits the bank in a subsequent month
B) Prepare a journal entry to debit income and credit cash
C) Write off the missing payment to bad debts
D) Adjust cash and accounts receivable pending investigation and contact the bank

Sagot :

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