What journal entry must be prepared when the company is notified by the bank that...
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Accounting
What journal entry must be prepared when the company is notified by the bank that a customer's check that had been deposited in the amount of $776 was returned NSF?
Debit Accounts Receivable and credit Cash in the amount of $776
Debit Cash and credit Accounts Receivable in the amount of $776
Debit NSF Check Expense and credit Accounts Receivable in the amount of $776
No journal entry is necessary.
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