Chapter 5 Flashcards
a business form ordering a bank to pay cash from a bank account
check
a bank account from which payments can be ordered by a depositer
checking account
2 things to open a checking account
signature card and deposit slip
a bank form that lists the checks, currency, and coins an account holder is adding to the bank account
deposit slip
a signature or stamp on the back of the check transferring ownership
endorsement
3 types of endorsements
blank, special, and restrictive endorsement
an endorsement consisting of only the endorsers signature
blank endorsement
a endorsement indicating a new owner of a check
special endorsement
an endorsement restricting further transfers of a check’s ownership
restrictive endorsement
a report of deposits, withdrawals, and bank balances sent to a depositor by a bank
bank statement
a check that has been paid by the bank
canceled check
a check that the bank refuses to pay
dishonored check
a check dishonored by the bank because of insufficient funds in the account of the maker of the check
non-sufficient funds check
non sufficient funds check is also known as a
NSF-Check
a computerized cash payments system that transfers find without the use of checks, currency, or other paper documents
electronic funds transfer (EFT)
a bank card that automatically deducts the amount of a purchase from the checking account of the card holder
debit card
an amount of cash kept on hand to make small payments
petty cash
a form showing proof of a petty cash payment
petty cash slip
a petty cash on hand account the is less than the recorded amount
cash over
amount title - cash short and over
debit when cash is short
credit when cash is over
replenishing petty cash
