On a bank reconciliation, which of the following would be deducted from the balance per bank?
A) Outstanding cheques.
B) Deposits in transit.
C) Electronic payment by a customer on account.
D) Bank service charges.

Question

Quizplus · Accepted Answer

Outstanding cheques are deducted from the balance per bank in a bank reconciliation because they have been recorded by the company but not yet cleared by the bank, thus they decrease the bank's balance to match the company's records.

On a Bank Reconciliation, Which of the Following Would Be