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In general, psychologists agree that the inability to remember experiences during the first years of life is
due to the defense mechanism of repression.
Outstanding Checks
Checks issued by a company that have not yet been cashed or cleared by the bank.
Deposits in Transit
Funds that have been received and recorded by a company but not yet credited by the bank, often seen in the reconciliation of bank statements.
Bank Statement Balance
The ending balance on a bank statement, representing the total amount of money in an account as recorded by the bank at the end of a given period.
Petty Cash Account
A small amount of cash kept on hand to pay for minor or incidental expenses.
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