A check written by the company for $282 is incorrectly recorded by a company as $228. On the bank reconciliation, the $54 error should be added to the balance per books. deducted from the balance per books. added to the balance per bank. deducted from the balance per bank.

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone