Test: Accounts Payable Test
|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
Please login to submit your answer.
Debit Notes Receivable:Credit Cash