Assuming the account is not in overdraft,when reconciling the ledger with the bank statement a deposit in transit should be:

Name: Assuming the account is not in overdraft,when reconciling the ledger with the bank statement a deposit in transit should be:
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

A deposit in transit is an amount that has been recorded in the company's ledger but not yet reflected in the bank statement. Therefore, it should be added to the bank statement balance during reconciliation to match the ledger balance.

Assuming the Account Is Not in Overdraft,when Reconciling the Ledger