Question

multiple select question
select all that apply
how to identify the outstanding checks?
□ check for the unwritten checks in the checkbook.
□ check for the canceled check listed in the bank statement.
□ check for the unchecked checks in the check register.
□ check for the returned checks in the mailbox.
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Explanation:

Outstanding checks are checks written by an entity but not yet processed (cashed or deposited) by the bank. To identify them, you compare the checks recorded in the company's check register (written checks) against the bank statement. Checks that are in the check register but not marked as canceled on the bank statement are outstanding. Unwritten checks do not exist as issued payments, and returned checks are those already processed and sent back, so they are not outstanding.

Answer:

• Check for the canceled check listed in the bank statement.
• Check for the unchecked checks in the check register.