10. On the bank's accounting records, customers' accounts are normally shown as: a. debit balances b. expenses c. an asset d. a liability 11. A bank may issue a credit memorandum to the business, for which of the following reasons: a. To show some outstanding checks that the business has written b. a monthly bank service charge c. to show that the business has deposited a customer's NSF check (the customer's check bounced.) d. to show the bank has collected a note receivable for the business 12. A check drawn by a depositor for $195 in payment of a liability was recorded in the journal as $915. This item would be included on the bank reconciliation as a(n): a. addition to the balance per the depositor's records b. addition to the balance per the bank statement c. deduction from the balance per the bank statement d. deduction from the balance per the depositor's records 13. Journal entries based on the bank reconciliation are required in the depositor's accounts for: a. outstanding checks b. deposits in transit c. bank errors d. book errors 14. Accompanying the bank statement was a debit memorandum for bank service charges. What entry is required in the depositor's accounts? a. debit Miscellaneous Expense; credit Cash b. debit Cash; credit Other Income c. debit Cash; credit Accounts Payable d. debit Accounts Payable; credit Cash 15. Accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the customer. What entry is required in the depositor's accounts? a. debit Notes Receivable; credit Cash b. debit Cash; credit Miscellaneous Income c. debit Cash; credit Notes Receivable d. debit Accounts Receivable; credit Cash