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A deposit in transit on last period's bank reconciliation is shown as a deposit on the bank statement this period. As a result, in preparing
A deposit in transit on last period's bank reconciliation is shown as a deposit on the bank statement this period. As a result, in preparing this period's reconciliation, the amount of this deposit should be:
Added to the book balance of cash. | |
Deducted from the book balance of cash. | |
Added to the bank balance of cash. | |
Deducted from the bank balance of cash. | |
Not included as a reconciling item. |
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