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Published byDerek Sanders Modified over 9 years ago
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CHAPTER 5 By: Ashley Kea
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KEY POINTS Depositing Cash Blank Endorsement, Special Endorsement, and Restrictive Endorsement Check Stub and Check Recording a Voided Check Bank Statement Journalizing Bank Service Charge Dishonored Check on Check Stub Petty Cash
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IMPORTANT VOCABULARY Checking Account: business form ordering a bank to pay cash from a bank account Postdated Check: future date Bank Statement: report of deposits, withdrawals, and bank balances sent to depositor by a bank Dishonored Check: check that a bank refuses to pay Debit Card: card that automatically deducts the amount of a purchase Petty Cash: amount of cash kept on hand Petty Cash Slip: form showing proof of a petty cash payment Endorsement: a signature or stamp on the back of check transferring ownership Blank Endorsement: only signature Special Endorsement: New owner Restrictive Endorsement: restricting further transfer
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CHECK STUB A check stub is a business’s record of each check written for a cash payment transaction
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ENDORSEMENTS Bank Endorsement Special Endorsement Restrictive Endorsement
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RECORDING A VOIDED CHECK A check with errors must be marked to that others will know that it is not to be used VOID is written in large letters across both the check and its stub
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