A Notation in the Post Reference Column of the General

question 44

True/False

A notation in the post reference column of the general journal indicates that the amount has been posted to the ledger.

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Definitions:

Interest Revenue

Income earned by a company from the interest it charges on loans or from interest-bearing investments.

Earned

A term referring to revenues or incomes that have been generated from business activities or services provided.

Bank Charges

Fees assessed by a bank for its services or as penalties for not meeting specific account requirements.

Bank Statement Adjustment

Bank Statement Adjustment involves correcting discrepancies between a company’s accounting records and its bank account statement, to reflect the accurate amount of cash available.