Regarding a bank reconciliation,which one of the following is an item recorded by the company but not by the bank?
A)Checks outstanding.
B)Interest earned.
C)Service charges.

Question

Quizplus · Accepted Answer

Checks outstanding are checks that have been issued by the company but have not yet cleared the bank. Therefore, they are recorded by the company but not yet by the bank. Interest earned and service charges are both items recorded by the bank on the statement but may not yet be recorded by the company.

Regarding a Bank Reconciliation,which One of the Following Is an Item