Question
When a depositor receives a bank statement indicating that there was a NSF check, the depositor should do which of the following? Group of answer
When a depositor receives a bank statement indicating that there was a "NSF check," the depositor should do which of the following? Group of answer choices
-Reduce the cash account per the books for the amount of the "NSF check."
-Reduce the cash account per the bank statement for the amount of the "NSF check."
-Debit allowance for doubtful accounts for the amount of the check.
-Increase the sales returns and allowances account.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
