?

Financial Accounting

Free Version

Upgrade subject to access all content

Moderate

Bank Reconciliation - Outstanding Checks

FINACT-DR1MD7

An outstanding check was listed as a reconciling item on the February bank reconciliation. When you examined the bank statement for March, the check was paid by the bank. When preparing the March bank reconciliation, you should

A

subtract the outstanding check from the bank balance.

B

add the outstanding check to the bank balance.

C

add the outstanding check to the book balance.

D

remove the outstanding check from the reconciliation.