Question: Linus Hugt owns Linus Blankets. Linus asks you to explain how he should treat the following reconciling items when reconciling the companys bank account. 1.

Linus Hugt owns Linus Blankets. Linus asks you to explain how he should treat the following reconciling items when reconciling the company’s bank account.
1. Outstanding checks
2. A deposit in transit
3. The bank charged to our account a check written by another company
4. A debit memorandum for a bank service charge

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