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Explain how each of these errors should be treated

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Reference no: EM132876003

Question - Kashechewan Inc. mistakenly recorded a cheque as $569 that was written for $659 in payment of a payable owing to one of the company's suppliers. In addition, the company noticed that the bank had mistakenly deducted a cheque for $415 from its bank account that was written by another company.

(a) Explain how each of these errors should be treated on the bank reconciliation.

(b) Identify any entries required on Kashechewan's books to correct these errors.

Reference no: EM132876003

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