The following items may appear on a bank statement:Bank correction of an error from recording a $3,200 deposit as $2,300EFT paymentNote collected for companyService chargeUsing the format shown below, indicate whether each 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. PE 8-2BItems on company'sbank statementThe following items may appear on a bank statement:1. Bank correction of an error from recording a $3200 deposit as $2,3002. EFT payment3. Note collected for company4. Service chargeobj. 4EE 8-2 p. 366Using the format shown below, indicate whether each item would appear as a debit orcredit memo on the bank statement and whether the item would increase or decreasethe balance of the company's account.Appears on theBank Statement asIncreases or Decreases thea Debit or CreditBalance of the Company'sBank AccountItem No.Memo

Bank Reconciliation Statement is an account prepared to match the balances as per cash book of the…

Answered: The following items may appear on a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following items may appear on a bank statement:

Bank correction of an error from recording a $3,200 deposit as $2,300
EFT payment
Note collected for company
Service charge

Using the format shown below, indicate whether each 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.

PE 8-2B
Items on company's
bank statement
The following items may appear on a bank statement:
1. Bank correction of an error from recording a $3200 deposit as $2,300
2. EFT payment
3. Note collected for company
4. Service charge
obj. 4
EE 8-2 p. 366
Using the format shown below, indicate whether each 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.
Appears on the
Bank Statement as
Increases or Decreases the
a Debit or Credit
Balance of the Company's
Bank Account
Item No.
Memo

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