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Entries based on bank reconciliation

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Entries Based on Bank Reconciliation

Which of the reconciling items listed below require an entry in the company's accounts? (None of the transactions reported by bank debit and credit memos have been recorded by the company.)

Item Entry Required

1. Bank service charges.  Yes or No

2. NSF check returned to company by the bank.  Yes or No

3. Check incorrectly recorded by company.  Yes or No

4. Check incorrectly charged by bank.  Yes or No

5. Deposit in transit.  Yes or No

6. Outstanding checks.  Yes or No

7. Note collected by bank.  Yes or No

Reference no: EM132440573

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