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Please review what I think I'm supposed to do and let me know if this is correct--

 

If child account ending in 1234 has a bogus $5000 balance as of 31 Dec 2017, I'd set the date in the Journal entry to 12/31/2017, turn on "Adjusting Entry", select CC 1234 as the account, and enter a debit for $5000.

 

Then on the next line, select the parent account and enter a credit of $5000.

 

On the next two lines, make similar entries for child account ending in 5678 with a bogus $10000 balance.

 

I would not use the "Reconcilation Discrepancies" account as QB would for an adjustment during reconciliation; correct?

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