Problem

Explain the meaning of the following terms:a. Canceled checkb. Outstanding checkc. Deposit...

Explain the meaning of the following terms:

a. Canceled check

b. Outstanding check

c. Deposit in transit

d. Debit memorandum

e. Credit memorandum

f. Dishonored check

g. Blank endorsement

h. Deposit slip

i. Drawee

j. Restrictive endorsement

k. Payee

l. Drawer

m. Service charge

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