Essay
Diamond Corp. prepares monthly bank reconciliations of its checking account balance. The bank statement for October 2013 indicated the following:
An analysis of canceled checks and deposits and the records of Diamond revealed the following items:
The correct amount of check # 627 is $980, but it was recorded as a cash disbursement of $890. The check was issued to pay for merchandise purchased. The check was written correctly and appeared on the bank statement correctly.

Correct Answer:

Verified
Correct Answer:
Verified
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