When preparing a bank reconciliation, which of the following would be deducted from the company's cash balance?

Question

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Bank service charges are fees charged by the bank for various services such as account maintenance or transaction fees. These charges will be deducted from the company's cash balance as they are expenses incurred by the company. Note receivable collected by the bank would increase the cash balance, outstanding cheques and deposits in transit would need to be added to the cash balance.

When Preparing a Bank Reconciliation, Which of the Following Would