Question

How would you reconcile for a bank service fee listed on the statement? (1 point) Responses erase it from the bank statement erase it from the bank statement add it to the closing balance on the statement add it to the closing balance on the statement enter it into your external register in the same manner as a withdrawal enter it into your external register in the same manner as a withdrawal keep a separate diary of service fees

Answer 1

To reconcile for a bank service fee listed on the statement, you would:

**Enter it into your external register in the same manner as a withdrawal.**

This means that when you see a bank service fee on your statement, you should record it as an expense or withdrawal in your personal or business financial records to keep your balance accurate.