G Accompanying the bank state w.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocatorinprogress=false O C Calculator Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts? Oa. debit Accounts Receivable, credit Cash Ob. debit Other Income credit Cash Oc debit Cash, credit Accounts Receivable Od. debit Cashe credit Other Income Calculator Minor Company had checks outstanding totaling $4,613 on its April bank reconciliation. In May, Minor Company issued checks totaling $39,897. The May bank statement shows that $26,369 in checks cleared the bank in May. A check from one of Minor Company's customers of $441 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be Oa. 518,141 Ob. $21,756 Oc. 566.266 Od. 517,700 Previous Next All work saved. El Instructor Calculator Under the allowance method of uncollectible accounts, the entry to write off a customer's account affects the accounting equation by Oa, increasing an asset and decreasing an asset Ob. increasing a liability and decreasing a liability Oc. decreasing an asset and decreasing stockholders' equity (expense) Od decreasing a liability and increasing stockholders' equity (revenue) Calculator Which statement is not true? Oa. Current assets are normally reported in order of their liquidity, Ob. Cash and cash equivalents are the first items reported under current assets. Oc. All receivables that are expected to be realized in cash beyond 265 days are reported in the non-current assets section. Od. Disclosures related to receivables are reported on the financial statement notes