The following items may appear on a bank statement: 1. Bank correction of an error from posting
Question:
The following items may appear on a bank statement:
1. Bank correction of an error from posting another customer's check to the company's account
2. EFT deposit
3. Loan proceeds
4. NSF check
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 Bank Account Item No.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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