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How deposits in transit timing differences occurs

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Reference no: EM132909040

Bank Reconcilement

To properly maintain controls over cash, companies must reconcile their Checking accounts on at least a monthly basis. And, consideration should be given to reconciling them on a more frequent basis depending on the volumes and amounts.

Required:

Problem (a) Explain how each of these timing differences occurs?

  1. Deposits in Transit
  2. Charges to the company for services rendered
  3. Non-Sufficient Funds (NSF) checks

Reference no: EM132909040

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