The following items may appear on a ban statement: 1. NSF check 2. Bank correction of an
Question:
The following items may appear on a ban statement:
1. NSF check
2. Bank correction of an error from posting another customer’s check to the company’s account
3. Loan proceeds
4. EFT deposit
Using the format shown below, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account.
Transcribed Image Text:
Appears on the Bank Statement as a Debit or Credit Memo Increases or Decreases the Balance of the Company's Item No Bank Account
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Appears on the Bank Increases or Decreases Statement as a Debit the Balance of the Item No or Cr...View the full answer
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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