A check that you have written has cleared the bank when ______.Multiple choice question.the bank notifies you that you have insufficient funds to cover the check (NSF)the supplier to whom you gave the check deposits it in his bank accountthe supplier to whom you gave the check records the payment receivedfunds have been withdrawn from your bank account to cover the check

Your customer's NSF check found on the bank statement is a reconciling item on a bank reconciliation and will need to be ______.Multiple choice question.added to the Cash balance in your accounting recordsdeducted from the Cash balance in your accounting recordsadded back to the bank balancededucted from the bank balance twice since it was added in error originally

NSF checks are the same as ______. (Select all that apply.)Multiple select question.non-sufficient funds checksoutstanding checksbounced checksEFT checks

Which of the following would result in a credit made to depositor's bank account?Select answer from the options belowEFT for accounts receivablebank service chargesEFT for accounts payablecheques marked NSF

Notification by the bank that a deposited customer check was returned NSF requires that the company make the following adjusting entry:Group of answer choicesCash         Accounts Receivable No adjusting entry is necessary.Accounts Receivable         Cash Miscellaneous Expense         Accounts Receivable

Outstanding checks are checks that ______.Multiple choice question.have been written but have not yet cleared the bankare over an allowed maximum amounthave not been deducted from the cash balance per the accounting records but has been deducted by the bankhave not yet been written but are owed