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In reconciling a bank statement,the bank statement balance is $1,000 and the balance per books is $1,205.A bank service charge is $5; a deposit in transit totals $500; and outstanding checks total $300.The journal entry for a bank service charge would include
Rejection
The refusal to accept or agree to something, such as a proposal, offer, or contract.
Acceptance
In contract law, acceptance refers to the agreement by the party to whom an offer has been made, to the terms of that offer, resulting in a binding contract.
Art Collector
An individual or institution that acquires and possesses artworks for personal enjoyment, investment, or preservation.
Phonetic Alphabet
A system of writing developed by early Greeks that uses letters to represent spoken sounds, enabling the expression of complex ideas.
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