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Emily is journalizing an adjustment for a returned check written by a customer. What type of account would this be considered?

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jepessoa

Answer:

When you are reconciling a bank account and you receive an NSF check (non-sufficient funds), you must reverse the collection of the check:

When you received the check the journal entry was:

Dr Cash xyz

    Cr Accounts receivable xyz

If the check bounces, the reversal entry is:

Dr Accounts receivable xyz

    Cr Cash xyz

Answer:

accounts recievable

Explanation:

A P E X

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