18. Explain the meaning of the following terms: a. Canceled check b. Outstanding check c. Deposit in

Question:

18. Explain the meaning of the following terms:

a. Canceled check

b. Outstanding check

c. Deposit in transit

d. Debit memorandum

e. Credit memorandum

f. Dishonored check g. Blank endorsement h. Deposit slip i. Drawee j. Restrictive endorsement k. Payee l. Drawer m. Service charge n. Electronic funds transfer

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