If a Bank Statement Included an EFT Payment of $945

question 71

Multiple Choice

If a bank statement included an EFT payment of $945 for insurance, the journal entry to record this reconciling item should include a:

• A)debit to Accounts Payable for $945.
• B)credit to Cash for $945.
• C)credit to Prepaid Insurance for $945.
• D)debit to Cash for $945.

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Definitions:

Development

The process of growth or progress in any entity, often involving evolutionary expansion or advancement.

Conjoined Twins

Twins that are physically connected to one another at birth, resulting from the incomplete separation of twin embryos during pregnancy.

Fertilization

The process in sexual reproduction where a sperm cell unites with an egg cell, leading to the formation of a zygote.

Sperm

The male sex cell.