If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? 57 Multiple Choice Subtract $45 from the bank's balance Add $45 to the bank's balance Subtract $45 from the book balance. Add $45 to the book balance. Subtract $45 from the bank's balance and add $45 to the book's balance. bank's b Great Falls Company's bank reconciliation as of February 28 is shown below. Bank balance $ 38,153 + Deposit in transit - Outstanding checks Adjusted bank balance $ 37,643 Book balance. 2,950 Note collection Check printing -1,730 +745 -35 1 $ 38,863 Adjusted book balance $ 38,863 One of the journal entries that Great Falls Company must record as a result of the bank reconciliation includes: Multiple Choice Debit Notes Payable $745; credit Cash $745. Debit Cash $745; credit Notes Receivable $745. Debit Cash $2,950, credit Sales $2.950. Debit Cash $2,950, credit Accounts Receivable $2,950. Debit Miscellaneous Expense $35; credit Accounts Payable $35.
