Accompanying the Bank Statement Was a Credit Memo for a Short-Term

question 148

Multiple Choice

Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts?

• A) debit Notes Receivable; credit Cash
• B) debit Cash; credit Miscellaneous Income
• C) debit Cash; credit Notes Receivable and Interest Revenue
• D) debit Accounts Receivable; credit Cash

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Definitions:

Nasal Cavity

The nasal cavity is a large air-filled space behind the nose, involved in breathing, filtering, warming, and humidifying inhaled air; it also houses olfactory receptors involved in the sense of smell.

Pharynx

The Pharynx is the part of the throat behind the mouth and nasal cavity, leading to the esophagus and larynx, involved in breathing and swallowing.

Respiratory Membrane

The thin barrier in the lungs through which gas exchange occurs between the air in the alveoli and the blood in the capillaries.

Oxygen Therapy

The administration of oxygen to increase the amount of oxygen in the blood, commonly used in medical treatments.