A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer ($400), a customer's note receivable collected by the bank $(1,400), and interest earned $(170). Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer ($400), a customer's note receivable collected by the bank $(1,400), and interest earned $(170). Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 18E
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![A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the
monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer
($400), a customer's note receivable collected by the bank $(1,400), and interest earned $(170).
Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F48d06d4f-6c09-49bb-b08f-73b8dd1bd7de%2F8ecfd54b-a4ec-41dd-b9c5-5fb139d13670%2F8dsbcih_processed.png&w=3840&q=75)
Transcribed Image Text:A company's Cash account shows a balance of $3,420 at the end of the month. Comparing the company's Cash account with the
monthly bank statement reveals several additional cash transactions such as bank service fees ($60), an NSF check from a customer
($400), a customer's note receivable collected by the bank $(1,400), and interest earned $(170).
Prepare the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)
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