Your Uncle Has Just Started a Business and Comes to You

question 144

Essay

Your uncle has just started a business and comes to you with a question. "I'm confused. I have a memo included with my bank statement indicating a $45 service charge for printing new checks. Since you're an accounting major, maybe you can explain to me why they call it a 'debit memorandum,' even though they are deducting this amount from my account. When I took Accounting in school, I could have sworn that a decrease in the Cash account would be a credit and not a debit.
REQUIRED:
In a short paragraph, explain this issue to your uncle.

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Definitions:

Respiratory Disease

Medical conditions that affect the lungs and other parts of the respiratory system, causing difficulty in breathing.

Environmental Problems

Issues affecting the natural world, often caused by human activities, that include pollution, climate change, deforestation, and loss of biodiversity.

Ecological Ignorance

Lack of understanding about the interconnections and interactions within ecosystems.

Poverty

A socio-economic condition characterized by the lack of basic resources and opportunities necessary for a standard living.