Prepare a journal entry to correct this amount


The Accounting Manager has informed you that the cash reconciliation is showing an un-reconciled difference to the bank statement of ($144,000), that is, the bank says you have more cash than you think you do. Through investigation, you have determined that the payroll clerk has not been crediting back employee contributions such as 401(k) and health insurance paid for by the employee. Prepare a journal entry to correct this amount.

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Accounting Basics: Prepare a journal entry to correct this amount
Reference No:- TGS0696709

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