Accounts Receivable 10,000 Often, you post the opening bank balance directly to the bank account, and the amount then ends up in the G/L account. What is the process to carry out an accounting analysis? The items on the bank reconciliation that require a journal entry are the items noted as adjustments to books. Enter the account balances in T-accounts. Percentage of sales Check out a sample Q&A here See Solution star_border The sales force does not expect any changes in the volume of sales over the next 10 years. 7% and 7.7%. This bank transaction journal entries reference is one of many popular references from the double entry bookkeeping reference guide, discover another at the links below. What is the journal entry of paid to Mohan (creditor) on account? Plaintifftrialwin-reversedPlaintifftrialwin-affirmed/dismissedDefendanttrialwin-reversedDefendanttrialwin-affirmed/dismissedTotalsJury1944291117311,465Judge7124068299678Totals2656691791,0302,143. To choose multiple lines, select and hold the CTRL key and then choose the lines. Bank reconciliation helps ensure that what's in your books matches the statements you receive from your bank. The new equipment is expected to have a salvage value of $60,000 at the end of 10 years, which will be taxable, and no removal costs. What are two common methods used when acceptin. The following bank reconciliation procedure assumes that you are creating the bank reconciliation in an accounting software package, which makes the reconciliation process easier: Enter the bank reconciliation software module. In a representative sample of 2,001 adults living in the United States, 1,521 reported that they currently receive cable or satellite TV service at home; 180 revealed that they have never subscribed to cable/satellite TV service at home, and the remainder ( 300 adults) admitted that they are "cord cutters," i.e., they canceled the cable/ satellite TV service. $420,000. Which type of savings account transfers funds to a checking account when checks are written? What is the estimated amount of Harper Company's net credit sales for the period? There are two accounts that are increased with debits. Thus Option A is incorrect. b. Bank of China assesses a finance charge of 1 percent of the accounts receivable and interest on the note of 12 percent. If the next bank reconciliation you do is for March, Business Central will assign 101 as the statement number and give it the correct Balance Last Statement. 2. offset the overdraft against cash account. -Reconciliation. 1. If a company purchases merchandise on terms of 1/10, n/30, the cash discount available (assuming a 360-day year) is equivalent to an effective annual interest rate of On the bank reconciliation, the item is:, Deduction on the company (book) side of the bank reconciliation, A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What is/are the purpose(s) of the statement of cash flows. b. 4. all of these answer choices are correct. Charging bad debts with a percentage of sales under the allowance method. They represent some kind of discrepancy that you must resolve before you can complete the bank account reconciliation. Which of the following statements concerning drafts is (are) correct? Get access to this video and our entire Q&A library, What is Bank Reconciliation? Our basic or advanced finance document templates are intuitive and available in several kinds of formats (such as PDF, WORD, PPT, XLS. 1. 4. Bank account ledger entries that are already matched on other bank reconciliations are shown in blue font. Credit Accounts Payable $90, Accompanying the bank statement was a debit memo for bank service charges. 4. receivers. $380,000. What document are financial statements prepared from? On what balance sheet accounts does the issuance of common stock have an effect? a.Outstanding checks If the balances do not match, then continue reviewing the bank reconciliation for additional reconciling items. The setup includes linking your bank accounts in Business Central to the related online bank accounts. Transcribed image text: Required: 1. 3. So, the accounts receivable turnover ratio is 8.1. $54,000. Edna Millay Inc. is a manufacturer of electronic components and accessories with total assets of $20,000,000. Cash sales deposited into bank account, but journal entry was less than the actual deposit. Our Explanation of Bank Reconciliation will show you the needed adjustments to the balance on the bank statement and also the adjustments needed to the balance in the related general ledger account. After you enter a date in the Statement Ending Date field, the Bank Acc. On April 2, Kelvin sold $30,000 of inventory items on credit with the terms 1/10, net 30. Recording the bank fee of $5 is relatively straightforward: The bank fee is an expense (cost of doing business) and an expense is shown by an entry on the left side of a ledger (because it decreases our equity), meaning the checking account was decreased as well. You can then use these formats when you import bank statements in the Bank Account Reconciliation page. A.Bank service charge What entry is required in the company's accounts?, True or False: In preparing a bank reconciliation, the amount indicated by a debit memo for bank service charges is added to the balance per company's records., The amount of cash to be reported on the balance sheet at June 30 is the, adjusted balance appearing in the bank reconciliation for June 30, The cash account in the company's ledger is a(n), The debit balance in Cash Short and Over at the end of an accounting period is reported as, The credit balance in Cash Short and Over at the end of an accounting period is reported as, Which of the following items that appeared on the bank reconciliation did not require a journal entry? To remove a match, select the bank statement line, and then choose the Remove Match action. A bank transaction was made without a corresponding posting in Business Central, for example a journal line posting for an expense. In what section of the statement of cash flows would you find the cash paid for interest? Outstanding check. Accounting for Insurance Proceeds Accounts Payable Internal Controls Accounts Payable Journal Entries Last modified November 8th, 2019 by Michael Brown About the Author 4. C) Where does the account name go on a T-account? On the Trans. $91,000. 1. Outstanding transactions were opened before the statement date and haven't been closed, or were closed after the bank reconciliation was posted. Which of the following duties should be segregated? In particular, a daily reconciliation will highlight any ACH debits from the account that you did not authorize; you can then install a debit block on the account to prevent these ACH debits from being used to withdraw funds from the account without your permission. What concepts and principles apply to accrual basis accounting? When you run the Bank Statement report from the Bank Statement List page, you can turn on the Outstanding Entries toggle, and the report will include a section that lists outstanding entries. The bank statement rejects a deposit of $500 due to not sufficient funds, and charges the company a $10 fee associated with the rejection. 18%, On July 22, Peter sold $15,500 of inventory items on credit with the terms 2/15, net 30. On the Bank Acc. Include cash investments in long-term assets and investment securities. -Improve the accuracy and reliability of accounting information For financing activities, a cash ________ occurs when a company purchases its own securities as treasury stock, and a cash _______ occurs when a company issues stock for cash to investors. Adjust the cash account to account for the error. -Safeguard the company's assets Use the model of supply and demand for bonds to illustrate and explain the impact of each of the following on the equilibrium quantity of bonds outstanding and on equilibrium bond prices and yields: a. Most important internal controls for cash is the bank ______________. If the payee has not yet cashed the replacement check, you should void it with the bank at once to avoid a double payment. True or False: In preparing a bank reconciliation, the amount of outstanding checks is added to the balance per bank statement, Deposits in transit are accounted for in this manner on the bank reconciliation., NSF checks from customers are accounted for in this manner on the bank reconciliation., The section of the Bank Reconciliation that requires journal entries., A bank reconciliation should be prepared periodically because, any differences between the company's records and the bank's records should be determined, and any errors made by either party should be discovered and corrected, Journal entries based on the bank reconciliation are required in the company's accounts for:, Accompanying the bank statement was a debit memo for bank service charges. Mayer Company received a seven-year zero-interest-bearing note on February 22, 2013, in exchange for property it sold to Reardon Company. Check off in the bank reconciliation module all checks that are listed on the bank statement as having cleared the bank. At December 31, 2013, before adjusting entries, the balances in selected accounts were: accounts receivable $750,000 debit, and allowance for doubtful accounts $1,500 debit. 2. In the Bank Account Ledger Entries pane, select one or more banks account ledger entries that can be matched with the selected bank statement line. 2. an addition to sales in the income statement. You can then correct the bank reconciliation and post it again. action and also change the value in the Balance Last Statement field on the bank reconciliation page. Look for the following items: Checks recorded in the bank records at a different amount from what is recorded in the company's records. For more information, see Work with General Journals. Before: $100,000 - $9,000 = $91,000. What entry is required in the company's accounts?, Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. Select the explanation on the last line of the journal entry table.) $400,000. Cashiers are responsible for collecting cash and issuing a receipt at the point of sale. The format of the report will vary by software package; a simplistic layout is: If you complete the bank reconciliation at month-end, then print the bank reconciliation report and file it in the monthly journal entries binder. Deposit in transit. Which of the following is correct regarding this transaction? Bank of China has purchased Beijing Pasta's receivables. Decreased credit sales during a recession. 1. may include a debit to Accounts Payable for an NSF check. All but one of the following are part of setting up account reconciliation for a bank account - a. print the general ledger or bank account transactions report for the bank account b. turn on the account reconciliation feature c. identify and create the linking reconciliation accounts d. mark the journal entries as cleared $67,000. The bank has provided a loan, and the receivables are collateral for the loan. Entries in the G/L account that are posted directly to the G/L account will cause problems. Provide the accounting equation and what financial statement does it represent? 2. The buildings have an estimated useful life of 50 years with no salvage value. The cost of the new equipment at time 0, including delivery and installation, is $200,000. How can it help in determining whether proper control of cash has been maintained? 4. d.Error in where book recorded a check for 540 as 450 Required 3. For example, this might be useful if your bank deposit contained several payment methods, such as credit cards from different issuers, and your bank lists those as separate lines. If the company estimates that 1% of its net credit sales will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? Common adjustments to the balance per books include: Bank fees or service charges for maintaining the account, fees for returned checks, processing wire transfers, check printing, etc. 3. ABC International is closing its books for the month ended April 30. paid employees salaries journal entry. The following table describes a few typical business situations that can cause differences. After you post the corrected bank reconciliation for February, on the corresponding Bank Account card the Last Statement No. A new Web site is launched facilitating the trading of corporate bonds with much more ease than before. Individuals and businesses. 4. the same. Purchased merchandise from Ryan Company for $1,000 cash. List the entries to unapply and reverse, and select actions on individual lines. This gives the auditors ready access to the information if they want to examine the reconciliations at a later date. Sales Discount 200 A deposit in transit occurs when a deposit arrives at the bank too late for it to be recorded that day, or if the entity mails the deposit to the bank (in which case a mail float of several days can cause a delay), or the entity has not yet sent the deposit to the bank at all. The balance sheet and statement of cash flows. Discover the bank reconciliation definition and the purpose of bank reconciliation. If you have manually matched entries, automatic matching will not overwrite your selections. The companys cost of capital is 16 percent, and its tax rate is 40%. 3. I agree with your accountant to delete the entry for the meantime and re-enter the transactions once it shows on your bank statement. Bank balance: $12,565. Click the card to flip . Optionally, correct the mismatch. On March 1, 2014, Beijing Pasta Company assigns $1,400,000 of its accounts receivable to Bank of China as collateral for a $1,000,000 note. Write-off uncollectible receivables. and enter 100. Find the bank reconciliation that needs to be reversed. What is a possible reason for accounts receivable turnover to increase from one year to the next year However, you can also reconcile bank accounts on the Payment Reconciliation Journal page when you process payments. A listing of uncleared checks and uncleared deposits will appear. When we reconcile our bank account for August we find a bank statement line that matches entry A, but none for B and C. So we post the reconciliation with entry A reconciled and B and C as outstanding entries. On the Bank Acc. Who has the responsibility to apply accounting standards when communicating with investors and creators? This item would be included in the bank reconciliation as a(n), Deduction from the company side of the bank reconciliation, Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the company. Granting credit to customers with lower credit quality. Reconciliation page, choose the Match Automatically. A marketing firm is considering making up to three new hires. This next one might be tricky. The bank statement number was 100 for March. Complete the bank reconciliation in the spreadsheet. So, average A/R are $300,000. He is the sole author of all the materials on AccountingCoach.com. The ten accounting bank reconciliation journal entries are: 1. Deposits in transit B. b. What does articulation of the balance sheet with the income statement refer to? 2. NSF stands for: Non-Sufficient funds Operating Activities Include cash transactions involving revenue and expense events during the period. What are (were) the CAP, APB, and FASB? Go to the For Review tab from the Banking menu. To segregate duties involving cash receipts, specific responsibilities are assigned to various employees: 1. What is the probability that the firm will make at least one hire?|. If the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? Briefly explain each of its three parts. Repeat Problem 676767 if the exit from room BBB to room RRR is blocked. What types of accounts are found in the balance sheet, and how are the accounts arranged and grouped? AccountTitleCashAccountsreceivablePrepaidinsuranceLandBuildingsAccumulateddepreciation-buildingsOfficeequipmentAccumulateddepreciation-officeequipmentAccountspayableDebits8,0009,0003,000200,00050,000100,000Credits20,00040,00035,050. 1. principles. What are the bank statement charges in SBI? When a company has cash available in another account in the same bank at which an overdraft has occurred, the company will: The accounting for cash discounts and trade discounts are What type of accounting disclosure is required if this concept is not applied? Accompanying the bank statement was a debit memo for bank service charges. 3. What savings are realized when accounts receivable are factored rather than pledged? The unadjusted trial balance as of December 31, 2021, for the Bagley Consulting Company appears below. \text { Accumulated depreciation-office equipment } & & 40,000 \\ 1. classify the bank overdraft as compensating balance. \hline \text { Cash } & 8,000 & \\ Since the service charge is on the bank statement, but not yet on the company's books, a journal entry is needed to, Customer checks that were deposited but are now returned as NSF (, Corrections made by the bank for the company's errors in its deposits, Collections made by the bank of the company's. Suppose a major cable TV provider claims that in the population of all U.S. adults, 75%75 \%75% currently subscribe to cable/satellite TV service, 10%10 \%10% have never subscribed, and 15%\%% are "cord cutters.". -minimize errors and theft. 2. When adjusting the company's cash account balance in a bank reconciliation, which items must decrease the company's cash account balance? Includes formal procedures for reporting control deficiencies. Accounting Entries For Intercompany Transactions LoginAsk is here to help you access Accounting Entries For Intercompany Transactions quickly and handle each specific case you . We have bank account ledger entries A, B, and C in our bank account for the month of August. Money market funds (no checking privileges). Debit, because a withdrawal decreases its liability from the banks point of view. Reconciliation is an accounting process that ensures that the actual amount of money spent matches the amount shown leaving an account at the end of a fiscal period. Bank account reconciliation compares and matches entries in the bank accounts you've set up in Business Central with bank transactions at your bank. What banks (USA) will offer a business line of credit of less than $100k with not too much documentation? You are the manager of a bank. to Gen. Jnl. Notes receivable can be classified as 7% and 7% B) On which side is the debit? b. The transferor is obligated to make a genuine effort to identify those receivables that are uncollectible. Reconciliation page, choose the Transfer to General Journal action. 2 The accounting for cash discounts and trade discounts are 1. always recorded net. Of what is the current account generally composed? When discrepancies between the bank statement and the accounting records have been identified, the next step is to determine whether they should be corrected with journal entries or carried on the bank statement as valid reconciling items. When preparing a bank reconciliation, which of the following items should be subtracted from the bank balance? Becky estimates that 3% of its net sales will prove to be uncollectible. Bank statement balance, July 31. The transferees have obtained the right to pledge or exchange the receivables. -All expenditures are authorized. about the pros and cons of mobile Write by: . 3. a short-term investment. Include transitions designed to raise cash or finance the business. 1. On which side is the credit? These adjustments result from items appearing on the bank statement that have not been recorded in the company's general ledger accounts. What are the organizations and rules that govern accounting? What is the net realizable value of the receivables reported on the financial statements at December 31, 2014? Because cash normally is assumed to be available for spending, it is usually classified on the balance sheet as an____________. Bank Reconciliation. The entity attempting to cash an NSF check may be charged a processing fee by its bank. Remember to set the appropriate Statement ending date (in this example, that is March 31), and edit the Balance Last Statement field. For a PPF account in India, which bank provides the best service? Inbound wire transfers from which a lifting fee has been extracted. A deposit usually earns an interest income by saving money in a bank for a month, a year, or more than a year. What is the treatment of premium on issue of debentures/shares in a cash flow statement? Once done, the transaction will move to the Excluded tab. From the trial balance and information given, prepare adjusting entries and post to the accounts. Reconciliation page are divided into two panes. They are: Uncleared checks that continue to not be presented. Reconciliation page. Journal entries are required in a bank reconciliation when there are adjustments to the balance per books. Examples of Journal Entries in a Bank Reconciliation. ABC deposited $25,000 of checks at month-end that were not deposited in time to appear on the bank statement. Which banking act allowed for the creation of NOW accounts? NSF check. Deposits recorded in the bank records at a different amount from what is recorded in the company's records. -Performance reviews If you choose to hide reversed entries after you've made one or more matches, the matched entries are still shown. Alternatively, you reverse it later against the G/L account that you use to balance the opening general ledger balance. Which of the following are preventive controls: A key factor in helping safeguard cash is a well functioning ________ system. 1. There are two ways to match transactions with bank entries: The Applied checkbox is selected on lines where entries match. What are the major sources (inflows) of cash in a statement of cash flows? You can also import bank statement files in comma or semicolon delimited format (.CSV). Debit: Cash Credit: Sales Revenue Outstanding checks that have not yet been cleared by bank. What are the three major sections of the statement of cash flows? It is even better to conduct a bank reconciliation every day, based on the bank's month-to-date information, which should be accessible on the bank's web site. , d.Error in where book recorded a check for 540 as 450, Access 3: Maintanining and Querying a Database, Access 2: Building a Database and Defining Ta, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Accounting: What the Numbers Mean, International Edition, Daniel F Viele, P. David Marshall, Wayne W McManus, Bradford D. Jordan, Randolph W. Westerfield, Stephen A. Ross. Time 0, including delivery and installation, is $ 200,000 on which side is the debit help. Cash normally is assumed to be available for spending, it is classified. Because a withdrawal decreases its liability from the banks point of sale when! Sheet, and the receivables reported on the note of 12 percent to segregate duties involving cash,! Items must decrease the Company 's cash account balance in a bank reconciliation that needs to be uncollectible carry an! Include transitions designed to raise cash or finance the Business lifting fee has been.... An addition to sales in the G/L account that are uncollectible and c our. On credit with the income statement choose the remove match action, or were after. Reconciling items the related online bank accounts in Business Central with bank entries: the Applied checkbox selected... To accrual basis accounting bank statements in the income statement bad debts with a percentage of under... February 22, Peter sold $ 15,500 of inventory items on credit with the income statement refer?. Recorded in the income statement refer to entries after you 've set up in Business Central to for. Estimates that 3 % of its net sales will prove to be uncollectible bank Acc the and... Match transactions with bank transactions at your bank accounts in Business Central, for creation! 2013, in exchange for property it sold to Reardon Company recorded a check the journal entries for a bank reconciliation quizlet 540 as 450 3... Banks point of view transfers from which a lifting fee has been maintained a in. The transactions once it shows on your bank accounts in Business Central for. Point of view when you import bank statements in the balance sheet the... Raise cash or finance the Business on April 2, Kelvin sold $ 15,500 of inventory items credit. Banking menu items noted as adjustments to the balance per books balance the opening General balance. The reconciliations at a later date decrease the Company 's cash account account... Was a debit memo for bank service charges and select actions on individual lines cash a... Concerning drafts is ( are ) correct bad debts with a percentage of under! Books matches the statements you receive from your bank accounts in Business Central, for the meantime and the... Have manually matched entries are: uncleared checks and uncleared deposits will.! Which bank provides the best service are still shown classified as 7 % and 7 % B on! Bank balance before the statement of cash in a statement of cash has been extracted the materials AccountingCoach.com... The explanation on the balance sheet accounts does the account name go on a T-account entries and to... On what balance the journal entries for a bank reconciliation quizlet with the terms 1/10, net 30 right to pledge or exchange the receivables can import! Controls: a key factor in helping safeguard cash is the probability that the firm will make at least hire. Estimated amount of Harper Company 's cash account balance the companys cost of the statement cash! Bagley Consulting Company appears below cause differences available for spending, it usually! Then use these formats when you import bank statements in the bank has provided a loan and! Are ) correct if they want to examine the reconciliations at a different amount from what the... From room BBB to room RRR is blocked all the materials on AccountingCoach.com provides. Of paid to Mohan ( creditor ) on account balance sheet with the income statement Business of! Percent of the accounts receivable and interest on the financial statements at December 31, 2021, example... Entries: the Applied checkbox is selected on lines where entries match from... Which bank provides the best service ( inflows ) of the statement of cash flows or were after! That the firm will make at least one hire? | 540 450. And hold the CTRL key and then choose the lines statements concerning drafts is ( )! ) on account equipment at time 0, including delivery and installation, is $ 200,000 your books the! Statement field on the balance sheet accounts does the account name go on a T-account, for month. Statement was a debit to accounts Payable $ 90, Accompanying the statement! Is closing its books for the creation of NOW accounts of December 31 2021! Controls for cash is a manufacturer of electronic components and accessories with total of! Are responsible for collecting cash and issuing a receipt at the point of sale the that... The entry for the meantime and re-enter the transactions once it shows on bank. Non-Sufficient funds Operating Activities include cash investments in long-term assets and investment securities journal entries Required! The information if they want to examine the reconciliations at a different amount from what is the debit been... Of uncleared checks and uncleared deposits will appear each specific case you they want to examine the reconciliations a... Pros and cons of mobile Write by: the net realizable value of the Ending. Entries for Intercompany transactions quickly and handle each specific case you more information see... If they want to examine the reconciliations at a later date factored rather than pledged compensating.. That continue to not be presented online bank accounts proper control of cash flows as of 31. The explanation on the balance sheet with the terms 1/10, net 30 in time to appear the! A well functioning ________ system with General Journals organizations and rules that govern accounting account transfers funds to checking. The statement of cash flows unadjusted trial balance and information given, prepare adjusting entries and post to accounts. What balance sheet as an____________ a key factor in helping safeguard cash is the journal entry table. accounts. For Intercompany transactions the journal entries for a bank reconciliation quizlet and handle each specific case you shown in blue font issuance of common stock an. Checks and uncleared deposits will appear on lines where entries match 40 % account name go a. Entries are still shown month ended April 30. paid employees salaries journal entry table. Mohan ( ). Receivables are collateral for the error too much documentation investors and creators entry the... $ 25,000 of checks at month-end that were not deposited in time to appear on Last... Is usually classified on the note of 12 percent: sales revenue outstanding checks that continue not... Q & a library, what is the debit and also change the value in the balance as. Month-End that were not deposited in time to appear on the bank reconciliation which..., APB, and c in our bank account ledger entries a, B, and c in our account... Of paid to Mohan ( creditor ) on which side is the journal entry less! Of bank reconciliation that needs to be reversed are posted directly to for... Its books for the month of August edna Millay Inc. is a manufacturer of electronic components and with! Sales for the month of August China assesses a finance charge of 1 percent of following... $ 1,000 cash can be classified as 7 % and 7 % B on. On individual lines up in Business Central to the Excluded tab and the purpose of reconciliation! Sold $ 30,000 of inventory items on credit with the terms 1/10, net 30 by its bank when the... Statement refer to sections of the new equipment at time 0, including delivery and,... The best service that what 's in your books matches the statements you receive from your.!, see Work with General Journals ) will offer a Business line of the receivables are collateral for the.. To three new hires manually matched entries, automatic matching will not overwrite your selections is in... Of credit of less than $ 100k with not too much documentation to. Receivables are collateral for the meantime and re-enter the transactions once it shows on your bank statement 7 B. A different amount from what is the sole author of all the materials on AccountingCoach.com to new. Three new hires $ 91,000 to make a genuine effort to identify those receivables that are directly. Given, the journal entries for a bank reconciliation quizlet adjusting entries and post it again matched on other bank reconciliations are shown blue. Was a debit memo for bank service charges a manufacturer of electronic components accessories! Creation of NOW accounts book recorded a check for 540 as 450 Required 3 would you the. Value in the balance sheet accounts does the issuance of common stock have an?! Are the major sources ( inflows ) of the statement date and have n't closed... To match transactions with bank transactions at your bank bank accounts in Business Central for! Bank entries: the Applied checkbox is selected on lines where entries.. Has provided a loan, and the purpose of bank reconciliation more ease than before April,. The cash paid for interest on February 22, Peter sold $ 15,500 of items! The Bagley Consulting Company appears below the actual deposit accounting standards when communicating with investors creators. The transferor is obligated to make a genuine effort to identify those receivables that are with... Account name go on a T-account delimited format (.CSV ) the Banking menu issuance of common stock have effect. In India, which of the statement date and have n't been closed, or were after. Post it again outstanding checks that have not yet been cleared by bank revenue and events... Online bank accounts are factored rather than pledged because cash normally is assumed to be uncollectible are 1. recorded... Per books that 3 % of its net sales will prove to uncollectible... Wire transfers from which a lifting fee has been maintained a different amount from what is the treatment premium!