The following items may appear on a bank statement: 1. Bank correction of an error from posting

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The following items may appear on a bank statement:

1. Bank correction of an error from posting another customer’s check (disbursement) to the company’s account
2. EFT deposit
3. Loan proceeds
4. NSF check

Using the following format, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account:

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Related Book For  answer-question

Financial Accounting

ISBN: 978-1305088436

14th edition

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

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