LOBRIGO.docx - LOBRIGO I 1-2 Debit Credit 3-4 Book credit...

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LOBRIGO I. 1-2 Debit, Credit 3-4 Book, credit memos 5-6 Cash count, Balance per book 7-9 Credited, Expenses, Debited 10-12 Cash count, Less, Balance per book 13-15 Book, Decreases, Cash balance II. There is no such thing as uncollected deposit but there is such thing as Undeposited collection III. Undeposited Collections, this is a cash receipt that has been added to the company’s cash balance but has not been added to the balance reported on the bank statement.

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