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Debit Memo vs. Credit Memo

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What effect does a debit memo in a bank statement have on the Cash account? What effect does a credit memo in a bank statement have on the Cash account?

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The solution explains the effect of Debit Memo versus Credit Memo on cash account.

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A debit is memo for a charge levied on the bank account and so the bank balance will reduce. For example the bank levies a service charge in the bank account. This will reduce the cash balance in the bank and the bank will issue a debit memo to the company which will detail the reason for the debit ...

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