using the format shown below indicate whether each item would appear as a debit or c 549651

PE 8-2A Items on company’s bank statement

The following items may appear on a bank statement:

1. EFT payment

2. Note collected for company

3. Bank correction of an error from recording a $7,200 deposit as $2,700

4. Service charge

Using the format shown below, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company’s account.