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Why dont deposits in transit and outstanding check amounts discovered in a bank reconciliation require a company to make corrections in its accounting records? Those
Why dont deposits in transit and outstanding check amounts discovered in a bank reconciliation require a company to make corrections in its accounting records?
- Those items have already been recorded by the bank.
- The amounts of those items always perfectly offset each other.
- Banking regulations allow depositors to ignore those items.
- Those items have already been recorded by the company.
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