During a bank reconciliation process,

outstanding checks and deposits in transit are subtracted from the bank statement balance

outstanding checks are added and deposits in transit are subtracted from the bank statement balance

outstanding checks are subtracted and deposits in transit are added to the bank statement balance

outstanding checks and deposits in transit are added to the bank statement balance

Sales to customers who use bank credit cards such as MasterCard and Visa are usually recorded by a

debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales

debit to Sales, debit to Credit Card Expense, and a credit to Cash

debit to Cash, credit to Credit Card Expense, and a credit to Sales

debit to Cash and a credit to Sales

When the perpetual inventory system is used, the inventory sold is debited to

Supplies Expense

Cost of Goods Sold

Sales

Inventory