Our textbook, chapter 6, presents for the bank reconciliation process the last line of each part of the process as, “Correct Cash Balance.” This sometimes might confuse students. Therefore, my suggestion is the following:

  For the reconciliation of the bank statement process the last line should read: “Adjusted Bank Balance.”

  For the reconciliation of our company cash records process the last line should read: “Adjusted Book Balance.”

  Once the total reconciliation process is complete both the “adjusted bank & adjusted book” balances must be equal.

Week #5 Learning Resources:

• Read Principles of Accounting: Chapter 6, “Cash and Highly Liquid Investments.”

·  Review embedded “Video Lectures” presented by the author

·  Complete embedded “MyExceLab” self-study exercises presented by the author

• Read Principles of Accounting: Chapter 7, “Accounts Receivable.”

·  Review embedded “Video Lectures” presented by the author

·  Complete embedded “MyExceLab” self-study exercises presented by the author

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