Accompanying the Bank Statement Was a Credit Memo for a Short-Term

question 148

Multiple Choice

Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts?

• A) debit Notes Receivable; credit Cash
• B) debit Cash; credit Miscellaneous Income
• C) debit Cash; credit Notes Receivable and Interest Revenue
• D) debit Accounts Receivable; credit Cash

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Definitions:

Unpleasant Stimulus

A negative or harmful stimulus that causes discomfort or aversion in an individual.

Punished

The act of imposing a penalty or negative consequence on someone or something as a result of their behavior or actions.

Operant Conditioning

A learning process through which behavior is shaped and maintained by consequences, including rewards and punishments.

Classical Conditioning

Classical conditioning refers to the learning mechanism where a response initially triggered by a second stimulus becomes triggered by the first stimulus after the two stimuli have been paired together repeatedly.