FINANCIAL ACCT.-W/ETEXTBOOK
FINANCIAL ACCT.-W/ETEXTBOOK
10th Edition
ISBN: 9781119428985
Author: Weygandt
Publisher: WILEY
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Chapter 7, Problem 24Q

(a)

To determine

Non-sufficient checks (NSF): When the customer bank returns the deposited check to the depositor’s bank indicating that there are insufficient funds in the account, such returned or bounced check is referred to as NSF check.

To define: NSF check

(b)

To determine

To mention: The treatment of NSF check in bank reconciliation.

(c)

To determine

To discuss: About the adjusting entry for NSF check

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