If a Bank Statement Included an EFT Payment of $670

question 138

Multiple Choice

If a bank statement included an EFT payment of $670 for insurance,the journal entry to record this reconciling item would include a:

• A) debit to Cash for $670
• B) debit to Accounts Payable for $670
• C) credit to Cash for $670
• D) credit to Prepaid Insurance for $670

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Definitions:

Control Group

A standard or baseline group in an experiment or study that does not receive the treatment or intervention being tested, for comparison purposes.

Demographic Data

Statistical data relating to the population and particular groups within it, including information such as age, gender, income, and education.

Social Science

The systematic empirical study of the patterns, structures, and functions of human behavior, individually or in groups, within society.

Statistical Significance

A term used in statistical analysis to represent the probability that an obtained result has not occurred by chance.