On a may monthly bank reconcilement an amount of 8677 is


On a May monthly bank reconcilement, an amount of $86.77 is required to be added with the beginning bank balance so that the general ledger bank balance will match. In the April monthly bank reconcilement also, the same amount was added with the beginning bank balance because the necessary correction entry was not done in the general ledger (the $86.77 was a tax & license expense check written in March & voided in April also a deduction and credit transaction of this same amount took place on the April bank issued statement). The $86.77 was added with the April bank rec. beginning balance to force the match. Should the bank account and tax & license expense account be debited or credited $86.77 to correct this? And should the $86.77 not be added with the May bank statement beginning balance?

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Financial Accounting: On a may monthly bank reconcilement an amount of 8677 is
Reference No:- TGS01588868

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