If a Bank Statement Includes an EFT Payment of $945

question 24

Multiple Choice

If a bank statement includes an EFT payment of $945 for insurance, the journal entry to record this reconciling item should include a:

• A)debit to Cash for $945.
• B)debit to Accounts Payable for $945.
• C)credit to Cash for $945.
• D)credit to Prepaid Insurance for $945.

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Definitions:

Phenylketonuria

A genetic disorder that results in the inability to metabolize the amino acid phenylalanine, requiring dietary restrictions to prevent intellectual disability and other health issues.

Metabolic Error

A physiological disorder caused by an abnormality in the body's metabolism, leading to issues in converting food to energy.

Dendrites

Branch-like extensions of a neuron that receive impulses from other cells and transmit them toward the cell body.

Developmentally Disabled

Refers to individuals facing significant limitations in both intellectual functioning and adaptive behavior, which covers many everyday social and practical skills.