Answer 1 of 6. This is due to the bank overdraft is considered an off-balance sheet item after the company signs an agreement with the bank. How To Prepare Projected Balance Sheet Accounting Education Balance Sheet Accounting Education Accounting Principles Contrarily a bank overdraft is a credit facility obtained from a bank. . In some cases businesses treat a bank. Suppose a company has bank accounts with two different banks and the net balance of the first bank is 1350000 and the net balance of the second bank is an overdraft of 5000. Hence unless the company is in the special sector such. 0345 744 4455 - Option 2 then option 2. A Current Assets Cash at bank and in hand nil. Should it be either. MCQ Online Tests 29. Bank of Scotland customers wanting to apply for a new loan. Bank overdraft is a type of financial instrument that is provided to some customers by the bank in the form of an extended credit ...