Which side?
Deposits Outstanding
Left or Bank
Deposits Outstanding
ADD or INCREASE
When updating the company's cash balance, when do we debit the cash balance?
The accounts that increase cash
What account do you use for an NSF check when journalizing?
Accounts Receivable
Bank error
Left side or Bank side
Checks outstanding
Subtract or Decrease
When updating the company's cash balance, when do we credit cash?
For the accounts the decreased the cash balance.
What does EFT stand for?
Electronic Funds Transfer
NSF Check
Company Balance
Unrecorded EFT for utilities
Subtract
What account is used when the company is unable to resolve the discrepancy?
The miscellaneous accounts
What does NSF stand for?
Non-Sufficient Funds
Unrecorded expenses
Right side or Company Side
Company error - recorded 150 when it should have been 105
Add
Deposits outstanding, checks outstanding, bank error
What does a cash disbursement mean?
To pay using cash
Bank service fees
Company or Right
Bank error - deposited into the wrong account
Do you debit or credit cash?
Service fee expense (55)
Accounts receivable (250)
Cash (305)
Credit
What are the 2 miscellaneous accounts?
Miscellaneous expense and Miscellaneous revenue