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Financial Accounting

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Bank Reconciliation: Debit Memos

FINACT-MAHSEE

For which of the following activities does a bank record debit entries (that is, issue debit memos)?

Select ALL that apply.

A

Payments made by electronic funds transfer (EFT)

B

Insufficient funds (NSF) checks

C

Service charges

D

Collections of a note receivable for the company