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:

Online Shopping

The act of purchasing products or services over the Internet from websites or mobile apps.

Secure Sockets Layer (SSL)

Technology that secures a website by encrypting information and providing authentication.

Online Shopping Transactions

Financial transactions made over the internet involving the buying and selling of goods or services.

Payment Fraud

Illegal transactions aimed at deceitfully obtaining money, goods, or services by manipulating payment processes.