Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the company. This item is a(n)

A) deduction from the balance per company's records
B) addition to the balance per bank statement
C) deduction from the balance per bank statement
D) addition to the balance per company's records

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller, typically due to a return or refund.

Short-Term Note

A promissory note due for repayment within a short period, typically less than a year, used by companies to manage cash flow or secure short-term financing.

Company's Records

Documentation that encompasses all the financial transactions, agreements, and obligations of a business.