The following items may appear on a ban statement: 1. NSF check 2. Bank correction of an
Question:
The following items may appear on a ban statement:
1. NSF check
2. Bank correction of an error from posting another customer’s check to the company’s account
3. Loan proceeds
4. EFT deposit
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.
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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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