Coasters Co. issued a note receivable to a customer. The customer made payment, principal and interest, directly to the Coaster’s bank. What would be included in the journal entry to adjust for this payment?     Debit to interest expense     Debit to notes receivable     Credit to interest income     No journal entry needed     Credit to cash

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.