Question

15.which forms can be used to record a payment made at the time of purchase by check? expense form and check form check form and bill form expense form, check form, and bill form expense form and bill form

Answer 1

To record a payment made by check at the time of purchase, the check form and expense form are typically used. The store gets the money by depositing the check into their bank account. It's crucial to ensure there are enough funds to avoid an overdraft.

Step-by-step explanation:

The forms used to record a payment made at the time of purchase by check typically include the check form and the expense form. When using a check for payment for goods and services, you need to have sufficient funds in your account, the payee's information, the date, and your signature on the check.

As for how the store gets the money, they deposit the check into their bank account, and the banks handle the transfer of funds. It is essential to avoid an overdraft, which occurs when you write a check for more money than you have in your account, leading to additional fees and a negative account balance.