The following items may appear on a bank statement:
1. Bank correction of an error from posting another customer’s check (disbursement) to the company’s account
2. EFT deposit
3. Loan proceeds
4. NSF check
Using the following format, 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:
Item No. Appears on the Bank Statement as a Debit or Credit Memo Increases or Decreases the Balance of the Company’s
Answer:
Appears on the Bank Increases or Decreases Statement as a Debit the Balance of the or Credit Memo Company’s Bank Account credit memo increases credit memo increases credit memo increases debit memo decreases