Question: The following errors were found when the controller at Pharoah Hotel was doing the October 31 bank reconciliation. 1. 2. 3. (a) On October 3,
The following errors were found when the controller at Pharoah Hotel was doing the October 31 bank reconciliation. 1. On October 3 , Pharoah recorded a payment of an account payable as $686. The correct arnount was $866. It was correctly recorded by the bank. 2. On October 16 , Pharoah recorded a deposit as $1,810. The correct amount was $8,110. The deposit was for the collection of an account receivable and the bank recorded it correctly. 3. On October 31 , the bank recorded a deposit as $5,451. The correct amount was $4,551. This error was corrected by the bank on November 1. Pharoah had correctly recorded the deposit. (a) For each of these errors, indicate if and how it would be shown on the bank reconciliation
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