RECORDING A DISHONORED CHECK ON A CHECK STUB

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Presentation transcript:

RECORDING A DISHONORED CHECK ON A CHECK STUB 1. Write Dishonored Check $50.00. 2. Write the amount of the dishonored check. 3. Calculate and record the new subtotal. 2 1 3 Lesson 6-3, page 136

JOURNALIZING A DISHONORED CHECK November 29. Received notice from the bank of a dishonored check from Learn N Play, $35.00, plus $15.00 fee; total, $50.00. Memorandum No. 55. Cash Accounts Rec.—Learn N Play 1. Which accounts are affected? Accounts Receivable—Learn N Play Cash Debit Normal Balance 50.00 2. How is each account classified? Accounts Receivable—Learn N Play is an asset account. Cash is an asset account.  Debit Normal Balance 3. How is each classification changed? Assets are increased. Assets are decreased. 50.00  4. How is each amount entered in the accounts? Assets increase on the debit side. Assets decrease on the credit side. Lesson 6-3, page 137

JOURNALIZING A DISHONORED CHECK 4 3 1 2 1. Write the date. 2. Debit Accounts Receivable—Learn N Play. 3. Credit Cash. 4. Write the source document number. Lesson 6-3, page 137

JOURNALIZING AN ELECTRONIC FUNDS TRANSFER 4 3 1 2 1. Write the date. 2. Debit Accounts Payable—Kelson Enterprises. 3. Credit Cash. 4. Write the source document number. Lesson 6-3, page 138

JOURNALIZING A DEBIT CARD TRANSACTION 4 3 1 2 1. Write the date. 2. Debit Supplies. 3. Credit Cash. 4. Write the source document number. Lesson 6-3, page 139

TERMS REVIEW dishonored check electronic funds transfer debit card Lesson 6-3, page 140