Define the deposit in transit items

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Reference no: EM132753462

Problem 1: Compare and contrast the two methods in Accounting for Petty Cash Fund.

Problem 2: Define the following items and explain their treatment in the preparation of a Bank Reconciliation using the adjusted balance method:

a. Deposit in transit

b. Outstanding checks

c. NSF (No sufficient funds) check

d. Service charge

e. Bank error

f. Book error

Reference no: EM132753462

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