5. Which "behind the scenes" image shows what happens when you pay a credit card balance? 6. Lamar finds reconciling his bank statement with his QuickBooks file at the end of the month too time-consuming. Upon learning that his bank offers a bank feed with QuickBooks, Lamar signs up for the service. How will this change his monthly reconciliation? A. It won't. Reconciliation will likely take just as long and be just as complicated. B. He will not have to do reconciliation at all anymore. C. Reconciliation will be quicker because most transactions will be matched already. D. The teller will do the reconciliation for him. 7. Match each description to its term. DESCRIPTIONS TERMS A. Funds are taken directly from the 1. Reconciliation Checking account. 2. Credit card B. After this, write a check or enter a bill reconciliation for the payment. 3. Undeposited C. This compares transactions that have Funds/Payments to Deposit and haven't yet cleared the bank. 4. Debit card purchase D. This shows all asset, liability, and 5. Balance sheet equity accounts. E. This holds customer payment funds until you deposit them into your bank account