Identify Whether Each of the Following Items 1 Through 8

question 26

Essay

Identify whether each of the following items 1 through 8 would on appear on the bank side or the book side of a bank reconciliation.
____ 1.Bank service charges
____ 2.Outstanding checks
____ 3.Deposits in transit
____ 4.NSF check
____ 5.Interest on a checking account
____ 6.The company properly wrote a check for $95.80 that the bank incorrectly paid as $9.58.
____ 7.The bank printed checks for the depositor for a fee.
____ 8.The bank collected a $1,000 note for the depositor.

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Definitions:

Revenue Journal

A financial journal used to record specific types of revenue transactions, detailing the source and amount of income.

Customer Account

is a financial account that records the transactions, balance, and other financial interactions between a business and its customer.

Revenue Journal

A specialized accounting journal where a business records its revenue transactions.

Cash Sales

Transactions in which goods or services are exchanged for immediate payment in the form of cash or its equivalents.