Following the February bank reconciliation, the accountant made the following entry in the Journal of...
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Accounting
Following the February bank reconciliation, the accountant made the following entry in the Journal of Kincaid Company: Accounts receivable 150 150 Which of the following is a possible explanation for this journal entry? Cash Multiple Choice The bank statement included a debit memo advising of a customer's NSF check that was returned The collection of an account receivable by Kincaid that is part of a deposit in transit Bank charges owed by Kincaid to the bank. The collection of an account receivable by the bank that has been deposited in Kincald's account
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