QuickBooks Chapter 10 Questions and Answers Rated A+

Many companies maintain two checking accounts, one for paying bills and one used exclusively for payroll As a business grows in complexity, the need for special purpose accounts grows accordingly. The process of determining the correct cash balance in an account by comparing company records with the bank statement is called a(n) bank reconciliation. In accounting terms, the movement of money from one account to another is called a(n) transfer In a manual accounting system, a transfer from a company's operating account is usually recorded in the ____ journal cash payments In a manual accounting system, when a transfer out of one cash account is recorded in the general journal, the corresponding transfer into another cash account is recorded in the ____ journal. genera