Indicate Whether Each of the Following Statements Is True or False

True/False

Indicate whether each of the following statements is true or false.
a)________ A bank statement debit memo describes a transaction that increases the depositor's assets.b)________ A bank statement credit memo describes a transaction that increases the customer's account balance.c)________ Service fees charged by a bank appear on bank statements as credit memos.d)________ Deposits in transit appear on the bank statement as credit memos.e)________ Outstanding checks do not appear on the bank statement.