Question: Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice in the column labeled effect. The first
Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice in the column labeled "effect." The first one has been done for you as an example. 1. Add to bank balance 2. Deduct from bank balance 3. Add to book balance 4. Deduct from book balance Description of Situation Effect (1,2,3, or 4) 1 A deposit in transit B bank service charge C NSF check D E Check written for $95 recorded on the company's ledger as $59 Outstanding checks F Check written for $80 recorded as $800 G Note collection by the bank on behalf of the business H Interest earned on checking account
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