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ROK has the following bank balances in XYZ bank: Savings Account: $20,000 ...

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Question

Accounting

ROK has the following bank balances in XYZ bank:
Savings Account: $20,000
Checking Accounts: ($1,000) overdraft.
How should ROK Company report this $1,000 overdraft in their checking account?
As a current liability on their balance sheet, adding it to the balance in accounts payable.
It MUST be offset with the $20,000 saving account balance
It can either show it as a current liability OR offsct it with the $20,000.
As a seperate line item as a negative amount uncter "Cash"
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