Accounting Chapter 9 Terms

Petty $ Fund account has a _ balance.

Debit

When a bank deducts amount other than paid check from from depositors account, issues form called a(n) _ memorandum.

Debit

Firms bank reconciliation statement shows balkace kf $12,000, total deposits in transit of $1,500, total outstanding checks of $1,000 the adjuster bank balance is _

$12,500

A _ is form received from bank showing all transactions recorded in the depositors account during the month

Bank statement

Check issued by firm that were paid by bank and returned to firm the bank statement are called _ checks

Canceled

Person firm that issues check is called the _ or payor

Drawer

To transfer ownership of check for one party to another, necessary to _ check

Endorse

If amount of $ available for deposit is _ than amount listed on audit tape taken from $ register, Cash short/over is debited

Less

Check issued by firm and entered in its records that have not been paid by bank are called _ checks.

Outstanding

A _ check is check dated some time in the future

Postaled

A _ is written promise to pay specified amount of $ at a specified time.

Promissory Note

Process of determining why difference exists between firms records and bank records and bringing two sets of records into balance known as _ the bank statement.

Reconciling

Record payment of sales tax owed, the accountant would DEBIT _ and CREDIT $

Sales Tax Payable

Payee indicates, as part of endorsement, name of person, firm to whom check is payable, payee has made a _ endorsement.

Full

Entry to record issuance of check in settlement of an interest-bearing promissory note includes a DEBIT to Notes Payable, debit to _ and a CREDIT to Cash.

Interest Expense