scenario 8: sunstone properties\nthe accountant for sunstone properties has gathered the following data for…

scenario 8: sunstone properties\nthe accountant for sunstone properties has gathered the following data for the october 31 reconciliation:\ncash balance per books as of october 31: $20,945.\ncash balance per bank statement: $21,400.\na $200 deposit made on the last day of the month is missing from the bank statement.\nuncleared checks written by the company total $1,200.\na monthly service fee of $45 was listed on the statement.\nthe bank incorrectly deducted a $500 check belonging to \sunstone inc.\ from the account.\nwhat is another term for uncleared checks?\nnsf checks\noverdraft checks\noutstanding checks\ncollected checks

scenario 8: sunstone properties\nthe accountant for sunstone properties has gathered the following data for the october 31 reconciliation:\ncash balance per books as of october 31: $20,945.\ncash balance per bank statement: $21,400.\na $200 deposit made on the last day of the month is missing from the bank statement.\nuncleared checks written by the company total $1,200.\na monthly service fee of $45 was listed on the statement.\nthe bank incorrectly deducted a $500 check belonging to \sunstone inc.\ from the account.\nwhat is another term for uncleared checks?\nnsf checks\noverdraft checks\noutstanding checks\ncollected checks

Answer

Brief Explanations:

In accounting, uncleared checks are also known as outstanding checks. These are checks that have been written by a company but have not yet been processed by the bank. NSF (Non - Sufficient Funds) checks are checks that bounce due to lack of funds. Overdraft checks are related to negative account balances. Collected checks have already been processed by the bank.

Answer:

C. Outstanding Checks