21. When a "debit memo" is included in a bank statement, what effect does that have on the cash balance? 22. What is a deposit in transit? 23. What term is used for a...

21. When a "debit memo" is included in a bank statement, what effect does that have on the cash balance?

22. What is a deposit in transit?

23. What term is used for a customer's check that is returned by the bank on which it was drawn because the customer did not have enough funds to pay the check?

24. Are outstanding checks an adjustment to the book balance, the bank balance, or not used in a bank reconciliation?

25. Is the establishment of a petty cash fund an asset source, asset use, asset exchange, or claims exchange transaction?