Corbin Company has two checking accounts. A special account is used for the weekly payroll only, and the general account is used for all other disbursements. Every week, a check in the amount of the net payroll is drawn on the general account and deposited in the payroll account. The company maintains a $5,000 minimum balance in the payroll account. On a monthly bank reconciliation, the payroll
account should
a. reconcile to $5,000.
b. show a zero balance per the bank statement.
c. show a $5,000 balance per the bank statement.
d. be reconciled jointly with the general account in a single reconciliation.
A
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