In comparing the canceled checks on the bank statement with the entries in the accounting records, it
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Question:
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4239 for November's rent was correctly written and drawn for $7,390 but was erroneously entered in the accounting records as $3,790. When preparing the November bank reconciliation, the company should deduct or add what amount from the bank statement balance or to the book balance of cash?
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