Items on Company’s Bank Statement The following items may appear on a bank statement: 1. NSF check 2. EFT deposit 3. Service charge 4. Bank correction of an error from recording a $400 check as $40 Using the following format, indicate whether the item would appear as a debit or credit memo on the

Question

Items on Company’s Bank Statement

The following items may appear on a bank statement:
1. NSF check
2. EFT deposit
3. Service charge
4. Bank correction of an error from recording a $400 check as $40

Using the following format, indicate whether the item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account:

Item No.

Appears on the Bank Statement
as a Debit or Credit Memo

Increases or Decreases the Balance
of the Company’s Bank Account

Accepted Answer

Item No.	Appears on the Bank Statement as a Debit or Credit Memo	Increases or Decreases the Balance of the Company’s Bank Account
1	debit memo	decreases
2	credit memo	increases
3	debit memo	decreases
4	debit memo	decreases

Question 8.2: Items on Company’s Bank Statement The following items may ap...

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