The bank statement for Ronson Company included a debit memo for a bank service charge of $58.
Required:
a) Show the effects of recognizing the bank service charge on the financial statements by recording appropriate amounts in the financial statements model provided. Include dollar amounts of increases and decreases; for cash flow, indicate whether it is an operating activity, investing activity, or financing activity. 
b) Is the recognition of the bank service charge an asset source, use, or exchange transaction?
Definitions:
Suspension
The arrangement of tires, air in tires, springs, dampers, and connecting mechanisms that link a vehicle to its wheels, facilitating movement between them.
Air Suspension
A type of vehicle suspension system powered by an air pump or compressor, creating a smoother ride by inflating rubber bellows located under the chassis.
Height Control Valves
Devices in air suspension systems that maintain or adjust the height of a vehicle by controlling air flow into or out of the air springs.
Pneumatic-actuated Reaction Delay
The lag or delay in response time in systems controlled by pneumatic actuators, often due to the time it takes to pressurize and depressurize the system.
Q7: The bank statement for Ronson Company included
Q16: The following account balances were drawn from
Q38: An expenditure that improves the quality of
Q62: The net income percentage indicates the amount
Q86: Osgood Company estimated that its warranty expense
Q101: List three measures that can be taken
Q116: Fain Company returned merchandise previously purchased on
Q167: Link's entry to record the NSF check
Q169: Burton Company sold land for $25,000 cash.
Q184: Which of the following is not a