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Elden [556K]
3 years ago
13

Which of the following is true of both paying with a check and paying with a debit card? A. Both work like a loan from your bank

that you can pay back later. B. When used, both take money directly out of a bank account. C. A personal identification number must be anytime checks or debit cards are used. D. Both are accepted by most people and most businesses?
Business
1 answer:
Sedaia [141]3 years ago
7 0
<span> B. When used, both take money directly out of a bank account.</span>
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Answer:

Explanation:

                                    The Carla Boat Company

                                     Bank Reconciliation Statement

                                     as at 30th November

Balance as per bank balance                                          $8,500

Add:  Uncredited payment                                              $6,480

Add:   Bank Charges                                                         $50

Add:  Returned Chq                                                           $700

Less:  Outstanding Chqs                                                  ($6,260)

Less:   Note received                                                         ($3,880)

Less: transposition error on payment                             ($54)

Balance as per cash book                                                 $5,536

Journal entries for transactions:

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  Credit: Bank Account                                            $50

Being bank charges expenses for the month of Nov

2. Debit: Cash in bank                                           $54

    Credit: Account Payable                                   $54

Being transposition error on Check No 138

3. Debit: Account payable                                      $700

   Credit: Bank Account                                           $700

Being NSF check returned

4. Debit: Bank Account                                           $3,880

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Being note receivable and accrued int

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