The Bank _________ a Customer's Account for Every Deposit It

question 168

Multiple Choice

The bank _________ a customer's account for every deposit it receives.

• A) debits
• B) credits
• C) debits or credits
• D) does nothing

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Definitions:

Invoice

A document issued by a seller to a buyer, detailing a transaction and requesting payment.

Non-sufficient Funds

A situation where a bank account does not have enough money to cover a transaction, often resulting in a fee.

Uncollectible Account

An account receivable that is deemed unrecoverable from a debtor, often written off as a bad debt by the company.

Purchases Journal

A specialized accounting journal used to record all purchase transactions, typically for inventory or supplies.