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The correct journal entry to reconcile an NSF check returned by the bank is:?

Answers:

• Debit Accounts Receivable, Credit NSF

• Debit Cash, Credit Accounts Receivable

• Debit NSF Expense, Credit Cash

• Debit Accounts Receivable, Credit Cash

Accounting Financial Accounting
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Question added by abdelaziz allam , محاسب اول , شركة كامبردج مصر للاستثمار التعليمي ش.م.م
Date Posted: 2016/02/10
Upvote (0) Views (15) Followers (5) Answers (5) Report Question
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LATEEF ADEMOLA
by LATEEF ADEMOLA , Research Scholar , Universiti Utara Malaysia

I will  rather go for option B

Hisham Jinini
by Hisham Jinini , موظف , البنك الاسلامي الأردني

The answer is Debit NSF Expense, Credit Cash

 

حسين محمد ياسين
by حسين محمد ياسين , Finance Manager , مؤسسة عبد الماجد محمد العمر للمقاولات العامة

Debit NSF Expense, Credit Cas

manseer muhammed ali
by manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

As per my knowledge i go with Option C:

NSF Expense Dr

To   Cash

Muhammad Ishaque Mohamed Ibrahim
by Muhammad Ishaque Mohamed Ibrahim , Finance Coordinator (Bank Relation, import) , Saudi Fisheries Company

• Debit NSF Expense, Credit receivable 

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