From the bank reconciliation no entry was recorded for deposits in transit. This would cause
A) assets to be overstated.
B) assets to be understated.
C) no impact since deposits in transit are already included in the balance per books.
D) no impact since deposits are not recorded on the books.

Question

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The Answer of From the bank reconciliation no entry was recorded for deposits in transit. This would cause
A) assets to be overstated.
B) assets to be understated.
C) no impact since deposits in transit are already included in the balance per books.
D) no impact since deposits are not recorded on the books.

From the Bank Reconciliation No Entry Was Recorded for Deposits