When a Depositor Receives a Bank Statement Indicating That There

question 1

Multiple Choice

When a depositor receives a bank statement indicating that there was a "NSF check",the depositor should do which of the following?

• A)Reduce the cash account per the books for the amount of the "NSF check".
• B)Reduce the cash account per the bank statement for the amount of the "NSF check".
• C)Credit allowance for doubtful accounts for the amount of the check.
• D)Increase the sales returns and allowances account.

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Definitions:

Constitution

The fundamental principles or established precedents according to which a state or other organization is governed.

Mexican American

Individuals in the United States who have Mexican ancestry, constituting a significant ethnic group with its own unique cultural, historical, and social experiences.

Native American

The indigenous peoples of the Americas, including various tribes, cultures, and languages existing prior to European colonization.

Distinct Cultures

The unique characteristics, traditions, languages, and practices that define different groups of people and distinguish them from one another.