On June 15, The Arab Bank received deposits by checks drawn on other local banks amount of $50000. In the clearance room, it found checks drawn on it clients' current accounts amounted $ 35000. All checks were accepted. Journalize all necessary entries in the books of the Aral Bank and the central bank.

On June 15, The Arab Bank received deposits by checks drawn on other local banks amount of $50000. In the clearance room, it found checks drawn on it clients' current accounts amounted $ 35000. All checks were accepted. Journalize all necessary entries in the books of the Aral Bank and the central bank.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash, Marketable Securities, And Complex Financial Instruments

Section: Chapter Questions

Problem 32CYBK

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