Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 7 - Cash and Receivables - Brief Exercises - Page 407: BE7-15a

Answer

Added to balance per bank statement

Work Step by Step

Deposit in transit is cash that has been received and acknowledged in the books but doesn't appear on the bank statement until a later date and therefore should be added to the balance per bank statement.
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