Solved

If a Bank Statement Included an EFT Payment of $670

Question 138

Multiple Choice

If a bank statement included an EFT payment of $670 for insurance,the journal entry to record this reconciling item would include a:

A) debit to Cash for $670
B) debit to Accounts Payable for $670
C) credit to Cash for $670
D) credit to Prepaid Insurance for $670

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