Which of the Following Journal Entries Is Recorded as a Result

question 72

Multiple Choice

Which of the following journal entries is recorded as a result of the bank reconciliation process to record a NSF check for $250?

• A) Cash 250
• Accounts Receivable 250
• B) Cash 250
• Accounts Payable 250
• C) Accounts Receivable 250
• Cash 250
• D) Accounts Receivable 250
• Petty Cash 250

---

Definitions:

Trustee

A person or organization that holds and administers property or assets for the benefit of a third party.

Assignee

A person or entity to whom rights or interests are transferred by another, known as the assignor.

Creditors

Individuals or entities that are owed money or other obligations by debtors.

Judicial Lien

A court order that allows a creditor to satisfy a debt by seizing the property of the debtor.