Question

Match the descriptions with the appropriate terms. Bank Reconciliation a. Statement issued by bank describing the activities in a depositor's checking account NSF Check b. A document prepared by the bank to explain a deduction from a depositor's account. Debit Memo Deposit in Transit C. The party to whom the check is payable to. Payee d. Statement prepared by company personnel to explain the difference between the cash balance on Check the bank statement versus the cash balance on the Bank Statement company's books Outstanding Checks e. A written order to a bank to pay a specific sum of money to the party designated as the payee by the party issuing the check. f. A check that is returned by the bank due to lack of funds in the account of the party issuing the check. g. This typically represents the day's cash receipts recorded in the depositor's books in one period but recorded as a deposit by the bank in a succeeding period. h. These are checks issued by the depositor but not yet paid by the bank on which they are drawn

Answer 1

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question	Answer
a)	Bank statement
b)	Debit memo
c)	Payee
d)	Bank reconciliation
e)	Check
f)	NSF check
g)	Deposit in transit
h)	Outstanding check