Q22 Michael, owner of Linen Michael Fabrics, asks you to explain how she should treat the following reconciling items when reconciling the company's bank account: (1) a debit memorandum for an NSF check, (2) a credit memorandum for an electronic funds transfer on account from a customer, (3) outstanding checks, and (4) a deposit in transit. should treat the reconciling items as follows. Which of the following statement is false? A. NSF check: Add to balance per books. B. Electronic funds transfer: Add to balance per books C. Outstanding checks: Deduct from balance per bank. D. Deposit in transit: Add to balance per bank