Cash transactions recorded by the bank but not yet recorded by the company include all of the following except
A)Service fees.
B)Interest earned.
C)Checks outstanding.

Question

Quizplus · Accepted Answer

Service fees and interest earned are recorded by the bank as soon as the transactions occur. However, checks that have been issued by the company but have not yet cleared the bank are considered outstanding and are not recorded by the company until they are paid. Therefore, checks outstanding are not yet recorded by the company.

Cash Transactions Recorded by the Bank but Not Yet Recorded