May 11th, 2015
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Debit/Credit - Week 2Read and respond to question #31 from page 156. You must respond to at least two of your classmates' postings to receive full credit.Question #31 Asks What effect does a Debit Memo in a bank statement have on the Cash account?According to our text a, Bank statement debit memos describe transactions that reduce/decrease the customers account balance (Edmonds, Olds, McNair, & Tsay, 2010). For example: Statement Transaction Balance1000.00Rent(500.00)Notebook(300.00)Paper (15.00)Pens(1.00)Pencils(2.00)Highlighter(5.00)Balance177.00

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