Credit memos from the bank
A) decrease a bank customer's account
B) are used to show a bank service charge
C) show that a company has deposited a customer's NSF check
D) show the bank has collected a note receivable for the customer

Question

Quizplus · Accepted Answer

Credit memos from the bank indicate that the bank has collected a note receivable or made a deposit on behalf of the customer, increasing the customer's account balance.

Credit Memos from the Bank