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If a Business Deposits a Customer's Cheque and Later Learns

Question 173

Multiple Choice

If a business deposits a customer's cheque and later learns that it is an insufficient funds cheque, the


A) bank will try to collect the amount.
B) general ledger balance will be less than the bank balance.
C) business will receive a credit memorandum from the bank.
D) business will receive a debit memorandum from the bank.

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