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How would the company record the required adjusting entry

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Reference no: EM131797916

The accountant for Stella Inc. prepared the bank reconciliation when the May 31 bank statement was received in the mail. The accountant discovered an error when preparing the reconciliation. A check issued to Remington Industries as payment on account in the amount of $340 was recorded in the company's books at $430. How would the company record the required adjusting entry for this item?

Reference no: EM131797916

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