Dooley Company sent a deposit of $7,000 to the bank. The bank credited Dooley Company's checking account for a deposit of $700. In reconciling the bank statement, the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000. Which journal entry should Dooley Company prepare? O A. Debit Cash for $6,300 and credit Accounts Receivable for $6,300. O B. Debit Cash for $6,300 and credit Deposits fo $6,300. OC. Debit Cash for $6,300 and credit Revenue for $6,300. OD. No journal entry is required.

Dooley Company sent a deposit of $7,000 to the bank. The bank credited Dooley Company's checking account for a deposit of $700. In reconciling the bank statement, the bookkeeper saw the deposit of $700 instead of the bank recording it at $7,000. Which journal entry should Dooley Company prepare? O A. Debit Cash for $6,300 and credit Accounts Receivable for $6,300. O B. Debit Cash for $6,300 and credit Deposits fo $6,300. OC. Debit Cash for $6,300 and credit Revenue for $6,300. OD. No journal entry is required.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.10C

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