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Answer the following questions to see what you've learned.

1.

When you post a manual or computer check, what is posted to record the check transaction and the current status of the check?

Check Ledger Entry

Bank Account Ledger Entry

Detailed Bank Account Ledger Entry

Detailed Check Ledger Entry

2.

After you have posted a check payment from the payment journal, you are informed that the check is refused by the bank. You now want to issue a new check for the same payment. What do you need to do to accomplish this task?

Void and reprint the check.

Cancel and reprint the check.

Financially void the check and create the payment journal line again.

Use the Reverse Transaction function and create the payment journal line again.

You must answer all questions before checking your work.

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