Vocabulary
This is a check that cannot be processed because the maker has made it invalid
What is a voided check
This is a bank card that, when making purchases, automatically deducts the amount of the purchase from the checking account of the cardholder
What is a debit card
This is the account that is credited when journalizing a debit card purchase
What is cash
This is an endorsement on the back of a check consisting only of a signature
What is a blank endorsement
This is the source document for an electronic funds transfer
What is a memorandum
This is a bank account from which payments can be ordered by a depositor
What is a checking account
This is a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
What is a bank statement
Voided checks should be recorded here
What is the journal
Each time cash or checks are placed in a bank account, the customer prepares this document
What is a deposit slip
This is the source document for a debit card purchase
What is a memorandum
This is a check which has been paid by the bank
What is a canceled check
This is a check with a future date on it
What is a postdated check
Using a memorandum as the source document for a dishonored check is an application of this accounting concept
What is objective evidence
This is an endorsement on the back of a check indicating that the check is to be accepted for deposit only
What is a restrictive endorsement
When writing a check, this is the first step
What is prepare the check stub
This is a check that a bank refuses to pay
What is a dishonored check
This is a form showing proof of a petty cash payment
What is a petty cash slip
This is a check that the bank refuses to pay
What is a dishonored check
This is the person that can cash a lost check with a blank endorsement on it
What is anyone who has the check
This is the debit/credit parts of the journal entry for recording a service charge
What is miscellaneous expense debit/cash credit
This is an amount of cash kept on hand and used for making small payments
What is petty cash
This is a signature or stamp on the back of a check transferring ownership
What is an endorsement
This is a check that has been issued but not yet reported on a bank statement by the bank
What is an outstanding check
This is an endorsement on the back of a check consisting of the words "Pay to the order of" and a new check owner's name
What is a special endorsement
When a deposit is made in a bank account, the bank issues this document
What is a receipt