If a Bank Statement Includes an EFT Receipt of $200

question 139

Multiple Choice

If a bank statement includes an EFT receipt of $200 for interest, the journal entry to record this reconciling item should include a:

• A) debit to Cash for $200.
• B) debit to Accounts Receivable for $200.
• C) credit to Cash for $200.
• D) credit to Prepaid Interest for $200.

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Definitions:

Fraternal Twins

Twins that develop from two different eggs fertilized by separate sperm cells, resulting in siblings that are genetically distinct.

Identical Twins

Identical twins are siblings born from the same fertilized egg that has split into two, sharing all of their DNA and typically having very similar appearances and genetic traits.

Influenced More By Genetics

The idea that certain traits, behaviors, or conditions are predominantly determined by genetic factors rather than environmental influences.

Below The Average Rate

Refers to any value or level that is less than the statistical average or mean in a given set of data or measurement.