Which One is True ? An "Outstanding Check" is a Direct Deposit by a Customer Directly into our Bank Account An NSF Check is a Check from a Customer that was collected Directly by the Bank and Deposited into our Account A "Deposit in Transit" is a Deposit that has not yet been recorded into our GL Records or into the Banks Records. If a Company has 3 Bank Accounts. Al 3 Account Balances will be shown as One Amount on the Balance Sheet. Which Method of Accounting for Bad Debts is required by GAAP and the SEC ? The Allowance Method The Direct Write Off Method The Cash Method The AR Method The GAAP Method What Accounting Term Describes a Check that has been written and recorded by our Business but has not yet been Recorded by the Bank? NSF Check Bad Check Direct Deposit EFT Deposit in Transit Outstanding Check