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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Checks that have not yet reached the bank are called ___________ checks. Deposits that have not reached the bank are called deposits in ___________. (4-7)

To determine

To fill: The blank spaces in the statement, “Checks that have not yet reached the bank are called _____ checks. Deposits that have not yet reached the bank are called deposits in _____”.

Explanation

Checks that have not yet reached the bank are called outstanding checks.

Deposits that have not yet reached the bank are called deposits in transit.

Written checks that are not yet appeared in the current bank statement because they have not yet reached the bank are said to be outstanding checks...

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