Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 32 - No. 30)
What is the impact of an NSF check on the company's cash balance in the cash book?
Increases the cash balance
Decreases the cash balance
No impact on the cash balance
It is recorded on the bank statement only
Explanation
The company needs to reduce its cash balance to reflect the check being returned unpaid.
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