Question: When preparing the bank reconciliation, a deposit in transit represents a. a deposit that is recorded on the accounting records of the business, but is

  • When preparing the bank reconciliation, a "deposit in transit" represents

  • a. a deposit that is recorded on the accounting records of the business, but is not yet recorded on the business's bank statement.
  • b. an addition to the bank balance amount
  • c. a timing difference that does not require a journal entry
  • d. all of the above

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