deposit in transit
A)added to the company's books
B)subtracted from the company's books
C)added to the bank statement balance
D)subtracted from the bank statement balance

Question

Quizplus · Accepted Answer

Deposits in transit are amounts that have been recorded by the company but not yet reflected on the bank statement. Therefore, they are added to the bank statement balance during the bank reconciliation process to reconcile the company's book balance with the bank statement balance.

Deposit in Transit