Answer the following statements true (T) or false (F)
1. Electronic funds transfers move cash by electronic communications.
2. Electronic funds transfers are a system that transfers cash by using paper documents.
3. Debit card transactions are considered electronic funds transfers.
4. All items on the book side of the bank reconciliation require journal entries.
5. Bank errors are posting errors made by the bank that either incorrectly increase or decrease the depositors bank balance.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. TRUE
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