If a bank statement included an NSF cheque for $450,the journal entry to record this reconciling item would include a:

Name: If a bank statement included an NSF cheque for $450,the journal entry to record this reconciling item would include a:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Since an NSF cheque means that the cheque bounced and was not honored by the bank, the company's Cash account should be reduced to reflect the fact that less actual funds are available. Therefore, the correct journal entry would be a credit to Cash for $450.

If a Bank Statement Included an NSF Cheque for $450,the