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:

Menorrhagia

A medical condition characterized by abnormally heavy or prolonged menstrual bleeding.

Menopause

A biological process marking the end of a woman's reproductive years, characterized by the cessation of menstrual cycles.

Premenstrual Syndrome

A complex syndrome affecting some women, characterized by emotional and physical symptoms that occur in the lead-up to the menstrual period.

Menorrhagia

A condition characterized by abnormally heavy or prolonged menstrual periods that can be indicative of underlying health issues.