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How would be adjusted in the bank reconciliation

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Reference no: EM132931090

Question 1: Artsy Co. wrote a check for $279, but incorrectly recorded the journal entry for $297. How would this be adjusted in the bank reconciliation?

1 Subtract from company records (book side)
2 Add to bank statement (bank side)
3 Add to company records (book side)
4 Subtract from bank statement (bank side)

Question 2: The closing process was done incorrectly if the following account is shown on the post-closing trial balance.

1 Prepaid Rent
2 Interest Payable
3 Unearned Revenue
4 Dividends

Reference no: EM132931090

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