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a. The bank service charge is $70. b. The book balance is $6,100 at October 31, 2020. C. Outstanding checks total $1.300. d. An automatic EFT withdrawal was taken from the account to pay utilities in the amount of $2,700. e. A check from LukeCo for $3,500 was returned for nonsufficient funds. f. The bank received an EFT from Leah Corp and deposited S14,300 in the account

a. The bank service charge is $70. b. The book balance is $6,100 at October 31, 2020. C. Outstanding checks total $1.300. d. An automatic EFT withdrawal was taken from the account to pay utilities in the amount of $2,700. e. A check from LukeCo for $3,500 was returned for nonsufficient funds. f. The bank received an EFT from Leah Corp and deposited S14,300 in the account

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The bank service charge is $70. b. The book balance is $6,100 at October 31, 2020. c. Outstanding checks total $1,300. d. An automatic EFT withdrawal was taken from the account to pay utilities in the amount of $2,700. TeA check from LukeCo for $3,500 was returned for nonsufficient funds. f. The bank received an EFT from Leah Corp and deposited S14,300 in the account. The EFT was from Leah Corp to pay rent. g. The bank balance at October 31, 2020 was $9,730. h. The bank collected a note in the amount of $1,500 deposited the cash in Vader's account at the bank but Vader has not yet entered the amount in the books. The total of $1,500 consists of S1,450 principle and $50 interest. i. A deposit of $7,200 is in transit. a.
Transcribed Image Text:The bank service charge is $70. b. The book balance is $6,100 at October 31, 2020. c. Outstanding checks total $1,300. d. An automatic EFT withdrawal was taken from the account to pay utilities in the amount of $2,700. TeA check from LukeCo for $3,500 was returned for nonsufficient funds. f. The bank received an EFT from Leah Corp and deposited S14,300 in the account. The EFT was from Leah Corp to pay rent. g. The bank balance at October 31, 2020 was $9,730. h. The bank collected a note in the amount of $1,500 deposited the cash in Vader's account at the bank but Vader has not yet entered the amount in the books. The total of $1,500 consists of S1,450 principle and $50 interest. i. A deposit of $7,200 is in transit. a.
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