Items on Company's Bank Statement

The following items may appear on a bank statement:

$1.$ Bank correction of an error from recording a $$7,400$ deposit as $$4,700$

$2.$ EFT payment

$3.$ Note collected for company

$4.$ Service charge

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:

Item Appears on the Bank

Statement as a Debit

or Credit Memo Increases or Decreases

the Balance of the

Company's Bank Account

$1.$ Bank correction of an error from recording a $$7,400$ deposit as $$4,700$

$2.$ EFT payment

$3.$ Note collected for company

$4.$ Service charge