A Customer's Check for $1,280 Was Returned for Nonsufficient Funds

question 72

Multiple Choice

A customer's check for $1,280 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF check?

Describe the biopsychosocial approach to analyzing personality and behavior.

Demonstrate knowledge of assessment strategies in personality psychology.

Discuss the effects of self-efficacy on personal challenges and tasks.

Understand the impact of the French Revolution on American politics and foreign policy.

---

Definitions:

Present Value

The present value of a sum of money or series of cash flows expected in the future, discounted at a certain rate of return.

Amortized Loan

A loan repaid in equal periodic amounts (or “killed off” over time).

Repayment Of Principal

The process of paying back the original amount borrowed in a loan, excluding any interest charges.

Effective Annual Return

The interest rate on an investment on an annual basis, accounting for the effect of compounding more than once per year.