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From the bank reconciliation no entry was recorded for the deposit in transit. This would cause: a. Assets to be overstated... B. assets to be
From the bank reconciliation no entry was recorded for the deposit in transit. This would cause: a. Assets to be overstated... B. assets to be understated... C. No impact since deposits in transit are already included in the balance per books... D. No impact since deposits are not recorded on the books...
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