dude7707
Level 5

Facts:  In 2022, Cash Basis 1065 T/P, receives monthly rental check.

Same year, check bounces.  

Q.  Record this as:

 

Dr.  Rental Income - Original Amount of check Rec'd.

Dr.  Bank Charges - NSF Fee

    Cr.  Cash - Total Bank Charge for this transaction. 

 

Correct?

 

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