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RECORDING A DISHONORED CHECK ON A CHECK STUB

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Presentation on theme: "RECORDING A DISHONORED CHECK ON A CHECK STUB"— Presentation transcript:

1 RECORDING A DISHONORED CHECK ON A CHECK STUB
Lesson 6-3 (GJ) 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 130

2 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, $ 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 131

3 TERMS REVIEW dishonored check electronic funds transfer debit card
Lesson 6-3, page 134

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