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-If the resistor opens in Figure 3-1, the following circuit conditions would exist.
Checks Written
The act of writing a check to settle a transaction, implicating the withdrawal of the specified amount from the payer’s bank account.
Checks Presented
Checks that have been written and given to a recipient but have not yet cleared through the banking system.
Debit Memorandum
A document issued by a buyer to a seller to correct or record a reduction in the amount owed to the seller.
NSF Check
A check that cannot be processed due to insufficient funds in the account it's drawn against.
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