Which of the following items that appeared on the bank reconciliation did not require a journal entry?
A) bank service charges
B) deposits in transit
C) NSF checks
D) a check for $630, recorded in the check register for $360

Question

Quizplus · Accepted Answer

Deposits in transit are amounts that have been received and recorded by the company but not yet recorded by the bank. No journal entry is needed for these items because they only affect the timing of when the bank recognizes the deposit, not the company's own records.

Which of the Following Items That Appeared on the Bank