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A check written and recorded by a company that has not yet been paid by the bank is a(n) Select one: a. outstanding check. b. NSF check. c. deposit in transit. d. accounts payable.
Balance differences identified during a bank reconciliation fall into three categories: Select one: a. timing differences, omissions, and errors. b. omissions, fees, and penalties. c. omissions, errors, and fraud. d. errors, omissions, and penalties.
If the bank records an NSF check from a customer, Select one: a. you must record the transaction in the Enter Bills window to reestablish the accounts receivable for this customer and deduct the cash that was never actually collected. b. it is recorded in the Make General Journal Entry window as a debit to Cash and credit to Accounts Receivable c. you must record the transaction in the Create Invoices window to reestablish the accounts receivable for this customer and deduct the cash that was never actually collected. d. you record the NSF check in the Receive Payments window, and you credit Accounts Receivable for the amount still due the company.
In QuickBooks, which window is used to compare the balance per the bank statement to the balance per the company's accounting records? Select one: a. Transfer Funds b. Reconcile c. Banking d. Chart of Accounts