Business, 07.03.2020 01:39 camillesmith6630

Which one of the statements appearing below is correct regarding bank reconciliations?

a. After preparing a bank reconciliation, no journal entries need to be made for outstanding checks or deposits in transit.

b. If a company's records show a different cash balance from that shown on the company's bank statement, either the company or the bank has made an error.

c. The up-to-date ending cash balance on the bank statement side should not equal the up-to-date ending cash balance on the book side.

d. A bank reconciliation is an external report prepared to report the cash balance to investors and creditors.

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Which one of the statements appearing below is correct regarding bank reconciliations?

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