A check was issued by L. The name of the payee written on the face of the check is “Cardo Dalisay from Ang Probinsyano”. What kind of instrument is this? A. Order instrument B. Bearer instrument C. Order and bearer instrument D. Trust Bill
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A check was issued by L. The name of the payee written on the face of the check is “Cardo Dalisay from Ang Probinsyano”. What kind of instrument is this?
A. Order instrument B. Bearer instrument C. Order and bearer instrument D. Trust Bill
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- How will the following items affect the pass book balance? Direct payment by customer into the back account. Interest on investment collected by the bank.Which of the following best describes a voucher? A supporting document prepared for each cash receipt or disbursement A promise to pay an amount owed within a discount period A written authorization prepared for each check written A written record sent to a payee along with the signed checkA prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advice
- A customer issued a note for an overdue account. Which of the following procedures is correct? A. The note is credited in the general journal by a debit to accounts receivable B. The amount will be posted to the credit side of the customer's card C. The amount will be posted to the debit side of the customer's card D. This will be posted to the accounts receivable general ledger on the debit side.An NSF check returned by the bank should be entered in the depositor's accounting records by a debit to:A. Accounts Receivable.B. An expense account.C. Cash.D. Cash Over and Short.Which of the following would be included in a journal to record an NSF check? a. A debit to Accounts payable and a credit to Cash b. A debit to Cash and a credit to Accounts receivable c. A debit to Accounts receivable and a credit to Cash d. A debit to Miscellaneous expense and a credit to Cash
- Accompanying the bank statement was a debit memorandum for an NSF check received from a customer. This item would be included on the bank reconciliation as a(n) ____.A written order for a bank or other financialinstitution to pay a stated dollar amountto a specified business or person is called aa. check.b. deposit slip.c. notes receivable.d. receipt.e. debit memorandumIV. Direction: Determine if the bank transaction is to be shown on the debit side or credit side of bankstatement. Write DEBIT or CREDIT on the blank before the number. __________1. NSF check.__________2. Interest on depositor’s account.__________3. Cancelled check.__________4. Deposits made by depositor.__________5. Check booklet fee.__________6. Payment made by debtor to the account of depositor.__________7. Notes collected by bank for the account of depositor.__________8. Bank service charge.__________9. Check from customer honored by bank._________10. Check issued by depositor honored by bank
- 10. In Exhibit 3.6, you see a credit sale to G. H. Allen that is recorded in a paper-based accounting system. On July 28, 2021, Aca Pool Co. received check number 6311 from G. H. Allen in payment of his outstanding invoice. Required: a. Record the receipt of Allen's check on the cash receipts prelist, document number CR645. Your instructor will provide you a blank form. b. Use the prelist as your source document to record this cash receipts transaction in the appropriate 14Calculator 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? Oa. debit Cash; credit Other Income Ob. debit Accounts Receivable; credit Cash Oc. debit Other Income; credit Cash Od. debit Cash: credit Accounts Receivable 231 PM 8.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? Oa. debit Cash; credit Notes Receivable and Interest Revenue Ob. debit Accounts Receivable; credit Cash Oc. debit Cash; credit Miscellaneous Income Od. debit Notes Receivable; credit Cash