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7. In preparing the monthly bank reconciliation, Fur Ltd ascertains that there is a $750 cheque from Hunt Traders for merchandise that is marked NSF.

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7. In preparing the monthly bank reconciliation, Fur Ltd ascertains that there is a $750 cheque from Hunt Traders for merchandise that is marked NSF. The journal entry to record this in Fur Ltd's books is: $750 Cr A Dr Accounts receivable Cash $750 $750 Cr B Dr Accounts receivable Inventory $750 Cr Cash C Dr Accounts payable $750 $750 D Cr Accounts receivable $750 Dr Cash $750

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