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1 year ago

Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is.

1 answer:

6 0

Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is a deduction from the balance per the company's records.

<h3>What is a bank statement?</h3>

Generally, Bank service charge refers to the fees that the bank levies against the company for the company's transactions involving its bank account.

This is shown as a deduction on the company's bank statement as reported by the bank, but it has not yet been recorded in the company's records.

Along with the bank statement, there was a debit memo for the bank service charges that were included. According to the records of the company, the item will be deducted from the total balance on the bank reconciliation.

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3 years ago

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3 years ago

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Hope this helps!

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3 years ago