Which of the following is not a reconciling item when preparing a bank reconciliation?
A)Bank service charges not recorded by the corporation
B)Outstanding cheques
C)Interest collected on a note receivable by the bank and recorded by the corporation
D)Outstanding deposits

Question

Quizplus · Accepted Answer

Interest collected on a note receivable by the bank and recorded by the corporation would not need to be reconciled as it would already match on both the bank statement and the corporation's records. The other options are typical reconciling items that need to be adjusted when preparing a bank reconciliation.

Which of the Following Is Not a Reconciling Item When