The Journal Entry to Record an NSF Cheque from a Customer

question 105

Multiple Choice

The journal entry to record an NSF cheque from a customer would require a:

• A)debit to Accounts Payable and a credit to Cash.
• B)debit to Cash and a credit to Accounts Receivable.
• C)debit to Accounts Receivable and a credit to Cash.
• D)debit to Miscellaneous Expense and a credit to Cash.

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Definitions:

Cultural Norms

Shared expectations and rules that guide behavior of people within social groups, often dictating what is considered acceptable or unacceptable within that society.

Electronically Activated Records

A method of collecting data that uses electronic devices to record certain types of behavioral data.

Conscientious People

Individuals who are diligent, careful, and meticulous; often reliable and responsible.

Openness To Experience

A personality trait characterized by a willingness to try new experiences, engage in diverse activities, and entertain novel ideas.