Which of the following events would cause a bank to debit a depositor's account?
A)The depositor orders new checks through the bank at a cost of $50.
B)The bank collects a note receivable and related interest on the depositor's behalf.
C)There are outstanding checks drawn on the account at month-end.
D)There are deposits in transit on the account at month-end.
E)The bank corrects an error from previous month by adding $75 to the depositor account.

Question

Quizplus · Accepted Answer

When a depositor orders new checks, the bank charges the depositor's account for the cost, resulting in a debit to the account.

Which of the Following Events Would Cause a Bank to Debit