A Customer's Check for $1,290 Was Returned for Nonsufficient Funds

question 158

Short Answer

A customer's check for $1,290 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF check?

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Definitions:

Dividend

A portion of a company's earnings, decided by the board of directors, to be distributed among shareholders.

Stock Price

The cost of purchasing a single share of a company's stock on the open market.

Bonds Outstanding

Refers to the total amount of bonds that are currently issued by a corporation or government and not yet redeemed.

Yielding

Refers to the earnings generated and realized on an investment over a particular period of time, typically expressed as a percentage.