UpTest > Finance and Accounting > Accounts Payable Test

Test: Accounts Payable Test

Question 58: Prev Next
Accompanying the bank statement was a credit memorandum for a short-term, non-interest-bearing note collected by the bank. What entry is required in the depositor's accounts?
Debit Accounts Receivable: Credit Cash
Debit Cash: Credit Notes Receivable
Debit Cash: Credit Miscellaneous Income
Debit Notes Receivable:Credit Cash
Please login to submit your answer.