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A 60-day, 12% note for $7,000, dated April 15, is received from a customer on account. The face value of the note is
Reconciled Balance
The balance of an account after all discrepancies have been resolved and all transactions have been accounted for.
Bank Statement
A document issued by a bank listing all transactions in an account over a specific period, including deposits, withdrawals, fees, and interest earned.
Checkbook Balance
The current total amount of money available in a checking account, as recorded by the account holder in their checkbook.
Outstanding Checks
Checks that have been written and recorded in the account balance but have not yet been cashed or cleared by the bank.
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