Key Terms Instructions: Please Define the Following Key Terms. Show Who

question 55

Essay

Key Terms
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
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Definitions:

Bank Service Charges

Fees charged by banks for various services such as account maintenance, transactions, or overdrafts.

Deposit In Transit

Money that has been received and recorded by a company but has not yet been reflected in the bank's records.

NSF Check

A check that cannot be honored because the account on which it is drawn lacks sufficient funds, standing for "non-sufficient funds."

Outstanding Checks

Checks that have been issued and recorded in accounting records but have not yet been cashed or cleared by the bank.