GET HUNGRY FOR CHAPTER 5 NALS

A simple signature of the payee which makes the check payable to bearer.

The total debits must always equal the total credits

A document purchased with cash allowing safe transmission of payment by mail without drawing upon a bank account is a

A ____ is a check issued by a bank upon its funds in another bank, usu. located in another city.

Credit is Recorded on the right side of an account.

a number assigned to an employer by the IRS that must be used on all reports submitted to the IRS

Endorser assumes no legal responsibility for payment should the drawer have insufficient funds to honor the check.

An advance payment made to cover some of the expected costs of a legal action is a retainer.

Difference between the total debits and total credits posted to an account.

When a firm check is not appropriate, many law firms maintain a ____ which is used to pay small amounts.

Interest Formula

States to whom a check is to be paid to

Limits the further purpose or use of the check.

A check drawn by a bank on its own funds is called a cashiers check

A string of unrelated entries for the same client and on the same matter, put together in a block entry

Time is sometime ___ or reduced from the bill.

A check issued by a bank that reduces the drawer's account by the amount of the check.

Person to whom a promissory note, bank draft or check is issued

Person to whom a check is written.

The accounting equation is

Debit is recorded on...?

A computer entry to record attorney time spent on a particular project is called a

A fee that is a percentage of the amount obtained in negotiation or litigation with another party.