When preparing a bank reconciliation, which of the following items should be added to the book balance?
A) EFT receipts
B) Deposits in transit
C) Collection items
D) Both EFT receipts and collection items

Question

Quizplus · Accepted Answer

EFT receipts and collection items are both items that have been recorded in the company's books but have not yet cleared the bank. Therefore, they need to be added to the book balance when preparing a bank reconciliation.

When Preparing a Bank Reconciliation, Which of the Following Items