a. August 31 cash receipts of $1,240 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $120 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,120. d. In reviewing the bank statement, an $80 check written by Mongelluzzo Fruits was mistakenly drawn against Mongelluzzo Food's account. e. The August 31 bank statement lists $20 in bank service charges; the company has not yet recorded the cost of these services.
a. August 31 cash receipts of $1,240 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement. b. The bank statement shows a $120 NSF check from a customer; the company has not yet recorded this NSF check. c. Outstanding checks as of August 31 total $1,120. d. In reviewing the bank statement, an $80 check written by Mongelluzzo Fruits was mistakenly drawn against Mongelluzzo Food's account. e. The August 31 bank statement lists $20 in bank service charges; the company has not yet recorded the cost of these services.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Bank Reconciliation Entries
(See next page-complete #2 first)
Prepare the necessary journal entries that Mongelluzzo Food Co. must record as a
result of preparing the bank reconciliation.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F93428baa-a622-44d3-bd47-08a2fc2bc9be%2Fc83fda25-3e6b-4f30-95e2-07eb5a88957f%2Fs5wbj9n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bank Reconciliation Entries
(See next page-complete #2 first)
Prepare the necessary journal entries that Mongelluzzo Food Co. must record as a
result of preparing the bank reconciliation.
![a. August 31 cash receipts of $1,240 were placed in the bank's night
depository after banking hours and were not recorded on the August 31
bank statement.
b. The bank statement shows a $120 NSF check from a customer; the
company has not yet recorded this NSF check.
c. Outstanding checks as of August 31 total $1,120.
d. In reviewing the bank statement, an $80 check written by Mongelluzzo
Fruits was mistakenly drawn against Mongelluzzo Food's account.
e. The August 31 bank statement lists $20 in bank service charges; the
company has not yet recorded the cost of these services.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F93428baa-a622-44d3-bd47-08a2fc2bc9be%2Fc83fda25-3e6b-4f30-95e2-07eb5a88957f%2F5fihjzp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:a. August 31 cash receipts of $1,240 were placed in the bank's night
depository after banking hours and were not recorded on the August 31
bank statement.
b. The bank statement shows a $120 NSF check from a customer; the
company has not yet recorded this NSF check.
c. Outstanding checks as of August 31 total $1,120.
d. In reviewing the bank statement, an $80 check written by Mongelluzzo
Fruits was mistakenly drawn against Mongelluzzo Food's account.
e. The August 31 bank statement lists $20 in bank service charges; the
company has not yet recorded the cost of these services.
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