Which of the following is not a reconciling item when preparing a bank reconciliation? A)bank service charges not recorded by the corporation B)outstanding cheques C)interest collected on a note receivable by the bank and recorded by the corporation D)outstanding deposits

Question

Quizplus · Accepted Answer

Interest collected on a note receivable by the bank and recorded by the corporation is already included in the bank statement, so it does not need to be reconciled. The other options (bank service charges, outstanding cheques, outstanding deposits) are all reconciling items that need to be adjusted in the bank reconciliation to match the corporation's records with the bank statement.

Which of the Following Is not a Reconciling Item When