Examlex
All of the following are true except:
Deposits In Transit
Deposits made and recorded by a company but not yet reflected on the bank statement.
Outstanding Checks
Checks that have been issued by a company but have not yet been cleared or cashed by the recipient.
Discounted Note
A short-term debt security sold for less than its face value that will pay the face value at maturity; it reflects the discounted present value of the future cash flow.
Proceeds
The total amount of money received from a transaction, such as the sale of an asset, before any deductions.
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