Which of the following transactions will appear in the bank statement but generally not have been recorded by the depositor?
A)Outstanding checks.
B)Service charges.
C)Deposits in transit.
D)Accounts receivable.

Question

Quizplus · Accepted Answer

Service charges are fees charged by the bank for various services such as maintenance of the account, overdraft fee, ATM fee, etc. These charges are deducted from the depositor's account by the bank and are reflected in the bank statement. The depositor generally does not record these charges. Outstanding checks are checks that have been issued by the depositor but have not yet cleared the bank, deposits in transit are deposits that have been made by the depositor but have not yet been credited to the account, and accounts receivable are amounts owed to the depositor by other individuals or companies and are not related to the bank account.

Which of the Following Transactions Will Appear in the Bank