After a bank reconciliation has been completed, the accountant must make journal entries to record the outstanding checks.

Question

Quizplus · Accepted Answer

Outstanding checks are checks that have been written and recorded in the company's cash account but have not yet cleared the bank. They do not require a journal entry because they have already been accounted for in the company's books; the reconciliation process is simply used to match the company's records to the bank's records.

After a Bank Reconciliation Has Been Completed, the Accountant Must