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Question(s) / Instruction(s):

6. Accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the customer.  What entry is required in the depositors accounts?

a.

debit Notes Receivable; credit Cash

b.

debit Cash; credit Miscellaneous Income

c.

debit Cash; credit Notes Receivable

d.

debit Accounts Receivable; credit Cash

 


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