Nation’s Best Electronics’ accountant bank error, assignment help

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Nation’s
Best Electronics’ accountant wrote a check to a
supplier for inventory in the amount of $1,300

but erroneously
recorded it on the​ company’s books as $1,030.

She discovered this
when she saw the monthly bank statement and noticed that the check had cleared
the bank for $1,300.

How would this be
handled on the bank​ reconciliation? Enter the transaction into
the accounting equation

Nation’s Best​’s accountant needs to make to correct its accounting records.

The accountant should (add or deduct) the difference of (?) from the (bank or book) balance when reconciling the bank statement.

Enter the transaction
into the accounting equation Nation’s
Bestaccountant needs to
make to correct its accounting records. Some of the account nameswill be abbreviated. ​(Use parentheses or a minus sign when entering account
decreases. Use only the necessary input​ lines.)

   

Shareholders’ Equity

Assets

=

Liabilities

+

Contributed Capital

+

Retained Earnings

$

Account

$

Account

$

Account

$

Account

=

+

+

=

+

+

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