On a bank reconciliation,deposits in transit are added on the bank side of the reconciliation.

Name: On a bank reconciliation,deposits in transit are added on the bank side of the reconciliation.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Deposits in transit refer to deposits that have been made by the company but have not yet been recorded by the bank. Therefore, they should be added on the bank side of the reconciliation to reflect the correct balance.

On a Bank Reconciliation,deposits in Transit Are Added on the Bank