The following items may appear on a ban statement: 1. EFT payment 2. Note collected for company
Question:
The following items may appear on a ban statement:
1. EFT payment
2. Note collected for company
3. Bank correction of an error from recording a $7,200 deposit as $2,700
4. Service charge
using the format shown below, 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.
Transcribed Image Text:
Appears on the Bank Statement as a Debit or Credit Memo Increases or Decreases the Balance of the Company's Item No Bank Account
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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