In preparing a bank reconciliation, what is the proper treatment of a deposit in transit? 1. Add
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Question:
In preparing a bank reconciliation, what is the proper treatment of a deposit in transit?
1. Add to the reported cash balance in the company's books.
2. Add to the reported cash balance in the bank statement.
3. Subtract from the reported cash balance in the company's books
4. Subtract from the reported cash balance in the bank statement
Expert Answer:
In preparing a bank reconciliation a deposit in transit refers to a deposit that the com... View the full answer
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