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Accounting Terms Chapter 5

AB
checking accountA bank account from which payments can be ordered by a depositor
endorsementA signature or stamp on the back of a check transferring ownership
blank endorsementconsists of only the endorser's signature
special endorsementan endorsement indicating a new owner of a check
restrictive endorsementendorsement restricting further transfer of a check's ownership
postdated checka check with a future date on it
bank statementreport of deposits, withdrawals, and bank balances
dishonored checka check that a bank refuses to pay
EFTa computerized cash payment system that transfers funds without the use of checks
debit carda bank card that automatically deducts the dollar amount of the purchase from a checking account
petty cashan amount of cash kept on hand and used for making small payments
petty cash slipa form showing proof of a petty cash payment


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