**Question:**Which of the following will NOT require an adjusting entry when reconciling the bank statement?- Interest earned- Outstanding checks- NSF check from customer- Bank service charges**Explanation:**This question asks which item does not necessitate an adjusting entry during the bank reconciliation process. - **Interest Earned:** Interest needs an adjusting entry as it increases the account balance.- **Outstanding Checks:** These do not require an adjusting entry since they have already been recorded in the books but have not yet cleared the bank.- **NSF Check from Customer:** This requires an adjusting entry because the account balance must be reduced to reflect the bounced check.- **Bank Service Charges:** These need adjusting entries because they decrease the account balance.

Bank reconciliation is a statement prepared to match bank account balance as per cash book and bank…

Answered: Which of the following will NOT require…

Which of the following will NOT require an adjusting entry when reconciling the bank statement? O Interest earned O Outstanding checks O NSF check from customer Bank service charges

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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