When you reconcile your monthly bank statement,any checks outstanding should be deducted from your book balance.

Name: When you reconcile your monthly bank statement,any checks outstanding should be deducted from your book balance.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Outstanding checks have already been deducted from your book balance when you issued them, but they are not yet reflected in the bank balance until they are cashed. Therefore, they are subtracted from the bank balance, not the book balance, during reconciliation.

When You Reconcile Your Monthly Bank Statement,any Checks Outstanding Should