3-2 Flashcards
0
Q
Starting balance
A
Amount of money in a checking account at the beginning of a statement period
1
Q
Bank statement
A
A statement including all transactions within a monthly period
2
Q
Ending statement
A
Amount of money in a checking account at the end of a statement period
3
Q
Outstanding deposits
A
Deposits that do not appear on the statement
4
Q
Outstanding checks
A
Check that do not appear on a statement
5
Q
Reconciling
A
Verifying a banks record to make sure no mistakes were made
6
Q
Statement period
A
Dates in which the transactions occured
7
Q
Cleared check
A
when bank pays and the amount is deducted from your account
