A company's cash deposit, while appearing as a debit on the company's books, would be shown as a credit on company's bank statement.

Name: A company's cash deposit, while appearing as a debit on the company's books, would be shown as a credit on company's bank statement.
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Question

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When a company deposits cash into its bank account, the bank records it as a credit because it increases the bank's liability to the company, while the company records it as a debit because it increases its cash asset.

A Company's Cash Deposit, While Appearing as a Debit on the Company's