Class Exercise QS 7-9Bank reconciliation LOG 1. Identify whether each of the following items affects the bank or book side of the reconciliation and indicate if the amount represents an addition or a subtraction: a. Deposits in transit b. Interest on average monthly balance c. Credit memos. d. Bank service charges e. Outstanding cheques f Debit memos 9. NSF cheques. 2. Which of the previous items require a journal entry