If the company has checking accounts in three banks, explain the following: a) b) Should it...

 

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If the company has checking accounts in three banks, explain the following: a) b) Should it maintain a separate ledger account for each? Should the company's balance sheet show as three separate items the amount on deposit in the three banks? If the company has checking accounts in three banks, explain the following: a) b) Should it maintain a separate ledger account for each? Should the company's balance sheet show as three separate items the amount on deposit in the three banks?

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ANSWER a Should it maintain a seperate ledger account If a company has 3 accounts in different banks ... View the full answer