A Check That "Bounced" or Was Returned by the Bank

question 138

Short Answer

A check that "bounced" or was returned by the bank due to lack of funds is called a(n) ____________________.

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Definitions:

Withdrawals Account

An account used in bookkeeping to record amounts drawn out by an owner or partner from a business for personal use.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account columns to check for accuracy.

Journalizing

The act of entering business transactions into the accounting journal in a systematic manner.

Trial Balance

A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.