Credit memorandum for a short-term note

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Reference no: EM13258657

Accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the customer.

What adjustment is required in the depositor's accounts?

a. increase Notes Receivable; decrease Cash

b. increase Cash; increase Miscellaneous Income

c. increase Cash; decrease Notes Receivable

d. increase Accounts Receivable; decrease Cash

Reference no: EM13258657

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