Economics · Bank Reconciliation
Which TWO of the following items are NOT valid reconciling items when preparing a bank reconciliation statement (since they require adjustments in the cash book instead of being timing differences)? 1. Unpresented cheques 2. Dishonoured cheque from a customer 3. Direct debit for $220 not yet recognised in the cash ledger 4. Bank error, incorrect bank charges deducted from account
- 12 and 4
- 21 and 2
- 31 and 4
- 42 and 3✓
Correct answer
2 and 3
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