In a bank reconciliation, there might be items which have been recorded by the company that have not yet been recorded by the bank. Examples of such items would include:

Question

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Deposits in transit are funds that have been received and recorded by the company but have not yet been processed by the bank. The other options are items that have been recorded by the bank but may not have been recorded by the company yet.

In a Bank Reconciliation, There Might Be Items Which Have