Select the appropriate term associated with a bank reconciliation for each of the following descriptions. Descriptions...

Select the appropriate term associated with a bank reconciliation for each of the following descriptions.

	Descriptions	Terms
a.	Cash receipts received by the company but not yet recorded by the bank.
b.	Fees imposed by the bank to the company for providing routine services.
c.	Checks written to the company that are returned by the bank as not having adequate funds.
d.	Checks written by the company but not yet recorded by the bank.
e.	Money earned on the average daily balance of the checking account.
f.	The company recorded a deposit twice.

Solutions

Expert Solution

Solution:-

	Descriptions	Terms
a.	Cash receipts received by the company but not yet recorded by the bank	Deposits outstanding
b.	Fees imposed by the bank to the company for providing routine services	Bank service fees
c.	Checks written to the company that are returned by the bank as not having adequate funds	NSF Checks
d.	Checks written by the company but not yet recorded by the bank	Checks outstanding
e.	Money earned on the average daily balance of the checking account	Interest earned
f.	The company recorded a deposit twice	Company error

ekkarill92 answered 1 year ago

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