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katrin [286]
4 years ago
13

Which of the following is not considered a credit..

Business
2 answers:
dalvyx [7]4 years ago
5 0

Which of the following is not considered a credit?

C. Overdraft fee

An overdraft fee is not considered a credit because it is not money coming into your account, it is money leaving your account. When you spend more money than you have in your account, you are charged an overdraft fee for overdrafting your account. Transfer into your account, direct deposit and interest earned are all ways to add money into your bank account.

Alexus [3.1K]4 years ago
4 0

Answer:

The correct answer is letter "C": overdraft fee.

Explanation:

A financial institution charges an overdraft fee when the balance of an account does not have enough funds to make a payment but it does go through. Usually, banks give account holders the freedom to choose if having or not this feature in their accounts since, as the fee is charged every time a transaction goes through when the account has a negative balance, it can lead customers to have potential debts.

In that case, an overdraft fee is not a credit in an account. As a charge, it represents a debit.

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The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.

<h3>What is a journal entry?</h3>

Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.

In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.

Read more about the journal entry

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7 0
2 years ago
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SOVA2 [1]

Answer:

True

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