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Outstanding checks refer to checks that have been: Multiple Choice Written and not yet recorded in the company books. Held as blank checks.

Outstanding checks refer to checks that have been: Multiple Choice Written and not yet recorded in the company books. Held as blank checks.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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Outstanding checks refer to checks that have been: Multiple Choice Written and not yet recorded in the company books. Held as blank checks. Issued by the bank. Written by the depositor, subtracted on the depositor's books, and sent to the payee but not yet turned in for payment at the bank statement date. Written, recorded, sent to payees, and received and paid by the bank.
Transcribed Image Text:Outstanding checks refer to checks that have been: Multiple Choice Written and not yet recorded in the company books. Held as blank checks. Issued by the bank. Written by the depositor, subtracted on the depositor's books, and sent to the payee but not yet turned in for payment at the bank statement date. Written, recorded, sent to payees, and received and paid by the bank.
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