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it means the bank you are making a transaction at hasn't approved the transaction yet so you have to wait because they can always decline or reverse it. Reverse means to send the amount of money you wanted to transfer elsewhere back to the checking account and it could be a lot of reasons as to why they would decline or reverse the transaction.
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What is a debit and how do you get one?
A debit is what occurs when you reduce a credit balance in a liability account such as a checking account. A debit can occur using a debit card, endorsed check, ATM withdrawl or withdrawl for the bank teller.
Does assets account have a debit balance or a credit balance?
debit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
What account has a normal debit balance?
debit
Why does purchases account have a debit balance?
Either you can consider purchase is an expense and a debit balance or an asset an a debit balance
What is a debit and how do you get one?
A debit is what occurs when you reduce a credit balance in a liability account such as a checking account. A debit can occur using a debit card, endorsed check, ATM withdrawl or withdrawl for the bank teller.
Is it possible to overdraw a checking account using a debit card?
Yes a lot of people tend to overdraw their checking account because they do not know how to balance their checkbook.
Does assets account have a debit balance or a credit balance?
debit
When were debit card invented?
Debit cards were first issued in 1978 by the First National Bank of Seattle. Debit cards connected to the cardholder's checking account with their available balance.
Does a debit iincreasse a cash account?
Cash account has a debit as a normal balance so debit increases the cash account and credit reduces the cash account which is reverse of debit balance.
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
What account has a normal debit balance?
debit
Is a bank account balance shown as a debit?
No, a debit is a with-drawl from your account.
Why does purchases account have a debit balance?
Either you can consider purchase is an expense and a debit balance or an asset an a debit balance
Is equipment a debit or credit balance account?
equipment is a fixed asset.so it's a Debit balance account.
What is debit balance of profit and loss account?
Debit balance of Profit & Loss Account represents "Loss"
Is an owner's drawing account a debit balance?
debit
