In preparing the monthly bank reconciliation,Fur Ltd ascertains that there is a $750 cheque from Hunt Traders for merchandise that is marked NSF.The journal entry to record this in Fur Ltd's books is:
A) DR Accounts receivable $750 CR Cash $750
B) DR Accounts receivable $750 CR Inventory $750
C) DR Accounts payable $750 CR Cash $750
D) CR Accounts receivable $750 DR Cash $750
Correct Answer:
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