Using the Following List of Accounts and Identification Letters a Through

question 79

Essay

Using the following list of accounts and identification letters A through J,enter the type of account and its normal balance into the table below.The first item is filled in as an example:

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Definitions:

Bank Service Charges

Fees charged by banks for various services provided to customers, such as account maintenance or transaction processing.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, by identifying discrepancies and making appropriate adjustments.

Internal Control

A process implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Bank Statement

A document issued by a bank that summarizes a customer's transactions, including deposits, withdrawals, and balances over a specific period.