On July 5, a company's accountant downloaded the firm's June 30 bank statement from the bank website. The accountant noted that an electronic funds transfer for $9,800 from Terra Cota Cataluna, a customer located in Spain, was received by the bank on June 30 but had not been recorded in the company's accounting records. What effect will this transaction have on the company's June 30 bank reconciliation?

Answer rating: 100% (QA)

This unrecorded electronic funds transfer EFT from Terra Cota Cataluna will have the following effec... View the full answer