Which one of the following items would be subtracted from the balance per bank statement in a bank reconciliation?
A) Outstanding checks
B) Deposit in transit
C) Service charges
D) Interest on customer note

Question

Quizplus · Accepted Answer

Outstanding checks are subtracted from the balance per bank statement in a bank reconciliation because they represent amounts that have been recorded by the company as cash outflows but have not yet been processed by the bank.

Which One of the Following Items Would Be Subtracted from the Balance