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What is the treatment for “interest credited in error by bank”? Is it included in the bank reconciliation statement or ignored completely?
Help pls.We can’t ignore it, because the balance on the bank statement is wrong!!!
We subtract it from the balance on the bank statement.
(Have you watched the free lectures on this? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.)
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