If the bank reconciliation includes outstanding checks,no journal entries are required.

Name: If the bank reconciliation includes outstanding checks,no journal entries are required.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

If the bank reconciliation includes outstanding checks, it means that these checks have been recorded in the company's books but have not yet cleared the bank. As a result, no adjustments or journal entries are necessary because the amounts have already been accounted for in the company's accounts payable balance.

If the Bank Reconciliation Includes Outstanding Checks,no Journal Entries Are