Difference between revisions of "Deposit in transit"

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Revision as of 08:26, 20 December 2018

Deposit in transit is a [[deposit that was made by customers of a bank but did not reach, or was not processed by the bank before the preparation of the bank statement.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Deposit in transit. Deposits that were made by customers of a bank but did not reach, or were not processed by the bank before the preparation of the bank statement.

Related concepts

Related coursework