select all that apply\ndetermine which of the items below would appear in the deposits column of a bank…

select all that apply\ndetermine which of the items below would appear in the deposits column of a bank statement and would cause an increase in the accounts balance.\n□ a returned uncollectible customer check\n□ deposits made during the month\n□ a note collected by the bank on behalf of the account owner\n□ checks written by the account owner\n□ interest paid by the bank on the bank account balance

select all that apply\ndetermine which of the items below would appear in the deposits column of a bank statement and would cause an increase in the accounts balance.\n□ a returned uncollectible customer check\n□ deposits made during the month\n□ a note collected by the bank on behalf of the account owner\n□ checks written by the account owner\n□ interest paid by the bank on the bank account balance

Answer

Brief Explanations:

  • A returned uncollectible customer check reduces balance and is not a deposit.
  • Deposits made during the month are deposits that increase balance.
  • A note collected by the bank on behalf of the account - owner is an inflow and increases balance like a deposit.
  • Checks written by the account owner are withdrawals, not deposits.
  • Interest paid by the bank on the bank account balance is an inflow and increases balance like a deposit.

Answer:

B. Deposits made during the month C. A note collected by the bank on behalf of the account owner E. Interest paid by the bank on the bank account balance