Accompanying the Bank Statement Was a Debit Memo for an NSF

question 141

Multiple Choice

Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts?

• A) debit Other Income; credit Cash
• B) debit Cash; credit Other Income
• C) debit Cash; credit Accounts Receivable
• D) debit Accounts Receivable; credit Cash

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Definitions:

Infant Categorization

The process by which infants begin to organize objects, people, and concepts in their environment into categories.

Attention

The action of focusing cognitive resources on a specific stimulus or task, excluding others.

Memory

The cognitive function that allows an individual to store, retain, and subsequently recall information.

Static Stimuli

Visual or auditory input that does not change over time, used in experiments to assess sensory or cognitive responses.