A deposit in transit on last month's bank reconciliation is shown as a deposit on...
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Accounting
A deposit in transit on last month's bank reconciliation is shown as a deposit on the bank statement this month. As a result, in preparing this period's reconciliation, the amount of this deposit should:
be added to the book balance of cash.
be deducted from the book balance of cash.
be added to the bank balance of cash.
not be included as a reconciling item.
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