The bank calls Laura to inform her that three of the patient checks deposited last week were NSF. What steps should Laura take to collect the NSF check amounts from the patients? Are there additional charges she can add to the patients' balances to cover the inconvenience?
A NSF cheque is issued when there is insufficient funds in the drawer account.
Lara should call and inform the patients regarding the NSF cheque to maintain adequate balance in the bank to get it cleared. This is because a NSF cheque can be subjected to legal issues.When a cheques bounces the patients are supposed to pay an additional charges for it.The patients can be informed either to pay in cash after collecting the NSF cheque or maintain adequate balance to clear the fee.
The bank calls Laura to inform her that three of the patient checks deposited last week...
A patient, Mary Jones, was seen last week and the doctor asked her to inform the office after a week on a new medication. What should the administrative medical assistant do when Mary reports that information? Multiple Choice O O C) Put the call immediately through to the physician Let Mary tell you about it and do nothing O Take a message and give it to the doctor O Have the doctor paged
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Reya is a receptionist at a private eye hospital. Her daily tasks include: Greeting, checking in, and checking-out patients Answer incoming calls Schedule and confirm patient appointments Check patient's insurance and calculate deductibles and co-payments due before the appointment Collect payments and enter information into the office computer system When the first patient for the day arrived, Reya realized that she had forgotten to verify insurance for the patients scheduled for the day. She is supposed to collect payment before...
Laura is a very successful businesswoman in the high-stress high-powered world of corporate finance. She has been referred to you by the company’s employment assistance program. You are the company's occupational nurse. Laura presents herself as a no nonsense business professional. She is frank and honest about the events that has brought her to your office. Laura tells you that although she tells herself that she will only have one or two glasses with dinner, she usually finishes the whole...
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding. No. 5888 for $1.028 and No. 5893 for $494. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE 16,800 TOTAL CHECKS AND DEBITS 9,617 TOTAL DEPOSITS AND CREDITS 11,270 CURRENT BALANCE 18, 453 CHECKS AND DEBITS Date No. Amount...
Blueprint Connection: Cash and Bank Reconciliation Cash and Cash Controls Cash includes coins, paper currency, checks, money orders, and money deposited with a financial institution that the company can withdraw at any time. The key to classification of an amount as cash is that it be readily available to pay debts. Cash is a reported on the . Cash also includes items properly classified as cash equivalents. These are limited to investments that are readily convertible to known amounts of cash and...
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,095 and No. 5893 for $516. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,864 11,597 19,733 CHECKS AND DEBITS DEPOSITS AND CREDITS Date...
Problem 6-5A (Algo) Preparing a bank reconciliation and recording adjustments LO P3 [The following information applies to the questions displayed below.) Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,003 and No. 5893 for $489. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement TOTAL CHECKS...
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,083 and No. 5893 for $480. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 16,500 10,063 11,951 18,388 CHECKS AND DEBITS DEPOSITS AND CREDITS Date...
Required information Problem 6-5A (Algo) Preparing a bank reconciliation and recording adjustments LO P3 [The following information applies to the questions displayed below.] Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,021 and No. 5893 for $506. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement...