Answer
A checking account at a bank should be recorded under the current assets section. The terminology used should be “Cash”.
Work Step by Step
The balance at the bank is part of current assets, similar to cash at hand.
Intermediate Accounting 14th Edition
by Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D.
Published by
Wiley
ISBN 10:
0470587237
ISBN 13:
978-0-47058-723-2
Chapter 5 - Balance Sheet and Statement of Cash Flows - Questions - Page 279: 15b
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