A bank issues credit memos for:
A) payments made by electronic funds transfer.
B) interest earned on the company's account.
C) service charges.
D) customer checks returned for not sufficient funds.

Question

Quizplus · Accepted Answer

A credit memo from a bank typically indicates an increase in a company's bank account. Interest earned on the company's account would result in a credit memo, as it represents additional funds credited to the account by the bank.

A Bank Issues Credit Memos For