Each time you prepare cash or checks to be put in the company bank account, you will prepare a

Each time you prepare cash or checks to be put in the company bank account, you will prepare a

• A. Bank Statement
• B. Deposit Slip
• C. Invoice
• D. Receipt

Answer: (B)

A deposit slip is the document you prepare when you’re bringing cash or checks to the bank to be added to the company’s account. It records what you’re depositing—cash amounts and checks—and provides the total, along with your account information, so the bank can credit the correct account. The bank statement is what the bank sends back after the deposit shows up on your account, not something you fill out each time. An invoice is a bill sent to customers to request payment, and a receipt is a record you issue to show a payment you’ve received from someone else. The deposit slip specifically connects the cash and checks you’re depositing to the correct bank account.

A deposit slip is the document you prepare when you’re bringing cash or checks to the bank to be added to the company’s account. It records what you’re depositing—cash amounts and checks—and provides the total, along with your account information, so the bank can credit the correct account. The bank statement is what the bank sends back after the deposit shows up on your account, not something you fill out each time. An invoice is a bill sent to customers to request payment, and a receipt is a record you issue to show a payment you’ve received from someone else. The deposit slip specifically connects the cash and checks you’re depositing to the correct bank account.