Accompanying the Bank Statement Was a Debit Memo for an NSF

question 141

Multiple Choice

Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts?

• A) debit Other Income; credit Cash
• B) debit Cash; credit Other Income
• C) debit Cash; credit Accounts Receivable
• D) debit Accounts Receivable; credit Cash

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Definitions:

Violence

The use of physical force or power, threatened or actual, against oneself, another person, or against a group or community, that either results in or has a high likelihood of resulting in injury, death, psychological harm, maldevelopment, or deprivation.

Firefighters

Trained professionals dedicated to extinguishing fires, rescuing individuals, and preventing the spread of fires, often involved in medical aid and disaster response.

Bankers

Professionals involved in the banking industry, dealing with the management of financial institutions, transactions, and the provision of financial services.

Volatile Substance

A substance that easily evaporates at normal temperatures and pressures, often creating potential hazards such as flammability or health risks when inhaled.