Which of the following transactions requires a journal entry?
A)The bank charged $50 for a stop payment on a check.
B)The bank deducted $50 from your account in error.
C)The bank collected a note receivable with interest on your behalf.
D)A and C

Question

Quizplus · Accepted Answer

A journal entry is required for both the bank charging a fee for a stop payment and for the bank collecting a note receivable with interest, as these transactions affect the company's financial records.

Which of the Following Transactions Requires a Journal Entry