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Q: Which of the following transactions will require a journal entry? Indicate if it will be a debit or…
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Q: Statement I: A customer is any person, firm or company which has a bank account and for whom the…
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Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital
A: Receipt on account means, cash received from previously made credit sales.
Q: A person is called a customer of a bank when he/she
A: The bank institution is a financial institution helps to keep our money safe.
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Q: A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified…
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Q: After preparing a bank reconciliation, journal entries are necessary to record Bank service…
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Q: A cheque returned by bank marked "R/D" means that__________.
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Q: This is a bank account used to deposit and withdraw money using the bank branch, using an ATM or…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: g would not appear on a bank statement for a checking account? a.Deposits
A: The correct answer is C. outstanding checks An outstanding check may be a check payment that's…
Q: a. Prepare a bank reconciliation at June 30. b. Prepare the necessary journal entries to bring the…
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Q: When a depositor can take out more than the amount of funds, he/she has within an account is known…
A: Solution:- Taking out more funds means withdrawing more funds than the actual balance in the bank…
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A: Bank statement: Bank statement refers to a printed record of the bank account balance. It consists…
Q: The following flow diagram illustrates a documentary bank collection as a method of payment in an…
A: Documentary collection - It is a procedure in which a bank of the importer(buyer) country acts on…
Q: Answer the following question: It is an event where money moves into or out of an account. a.…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Business makes payment of Bank loan. Which of the following is the correct journal entry? a. Dr Bank…
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Q: A bank statement
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LORO account will involve a
O a. Mediator
O b. New bank account
O c. Correspondent Bank
O d. Foreign Bank
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- Leann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.Domingo Company received the following bank statement. Using PA9, prepare the bank reconciliation.Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
- Prepare the journal entry to reconcile the bank statement in EB7.Match the following words with their definitions by entering the correct number in the spaces below. 1.deposit ticket 2.ATM 3.check 4.bank statement 5.blank endorsement _____ a.A document ordering a bank to pay cash from a depositors account. _____ b.An endorsement where the payee simply signs the back of the check, making the check payable to any bearer. _____ c.Automated teller machinea machine used by depositors to make withdrawals or deposits at any time. _____ d.A statement of account issued by a bank to each depositor once a month. _____ e.A form showing a detailed listing of items being deposited.Deposits other than customer payments are entered using: a. Receive Payments b. Pay Bills c. Bank Deposit d. All of the above
- Question: 1.What is the correct source documents for bank charges from business bank account. option: a) invoice received by the business X. b) invoice issued by business X. c) Receipts received by business X. d) Receipts issued by business X. e) Bank Debit advice. f) Bank credit advice. g) internal memo. h) cash sales slip. i) Cheque butt. j) credit note issued by business X. reqiured: please answer this question by choosing the correct source documents.Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections already forwarded to the bank for deposit but too late to appear in the bank statement c.matured time deposits transferred by bank to the current account d.notes receivable collected by the bank in favor of the depositor e.charges for penaltyBusiness makes payment of Bank loan. Which of the following is the correct journal entry? a. Dr Bank Loan account Cr Cash account b. Dr Cash account Cr Loan c. Dr Cash account. Cr Capital d. Dr Bank Cr Cash account
- 1. What is the correct source documents for direct deposit by customer of business X. option: a) invoice issued by business X. b) Receipts issued by business X. c) Bank credit advice. d) internal memo. e) cash sales slip. f) Cheque butt. g) credit note issued by business X. reqiured: please answer this question by choosing the correct source documents.A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified business or person is called aa. check.b. deposit slip.c. notes receivable.d. receipt.e. debit memorandumQuestion: What is the source documents for Payment made by the business X. option: a) invoice received by the business X. b) invoice issued by the business X. c) Receipts received by the business X. d) Receipts issued by the business X. e) Bank Debit advice. f) Bank credit advice. g) internal memo. h) cash sales slip. i) Cheque butt. J) credit note issued by business X. reqiured: Please answer this question by choosing the right option.
