Multiple Choice
Automatic fixed monthly payments such as auto lease,insurance premiums and mortgage -
A) can be recorded in the account reconciliation journal or in the general journal
B) must be recorded with a normal general journal entry
C) should be recorded in the adjustments journal
D) should be recorded as cash payments because they involve withdrawals from the bank account
Correct Answer:
Verified
Correct Answer:
Verified
Q14: To set up the accounts for recording
Q15: When you compare the general ledger or
Q16: Cash and cheques are recorded differently on
Q17: You will have an unresolved reconciliation amount
Q18: To enter NSF cheques when deposit slips
Q20: Which one of the following general statements
Q21: To reconcile a credit card receivable account
Q22: If the session date is May 31st,what
Q23: The Banking module window includes journal icons
Q24: To transfer funds to and from credit