Deposits that have been recorded on the book, but have not yet been recorded by the bank are:
A) nonsufficient funds deposits.
B) outstanding deposits.
C) deposits in transit.
D) electronic funds deposits.

Question

Quizplus · Accepted Answer

Deposits in transit are deposits that have been recorded on the company's books but have not yet been recorded by the bank. These deposits are typically made near the end of a business day and may not be processed until the following business day. As a result, they are recorded as deposits in transit until the bank has processed them.

Deposits That Have Been Recorded on the Book, but Have