Question: Explain the meaning of the following terms: a. Canceled check b. Outstanding check c. Deposit in transit d. Debit memorandum e. Credit memorandum f. Dishonored

Explain the meaning of the following terms:
a. Canceled check
b. Outstanding check
c. Deposit in transit
d. Debit memorandum
e. Credit memorandum
f. Dishonored check
g. Blank endorsement
h. Deposit slip
i. Drawee
j. Restrictive endorsement
k. Payee
l. Drawer
m. Service charge

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a Canceled check A cancelled check is a check that is paid by the bank They are a proof of payment b ... View full answer

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