Accompanying bank statement for Borden Company is a credit memo for $15,225 representing the principal ($15,000) and interest ($225) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.
Accompanying bank statement for Borden Company is a credit memo for $15,225 representing the principal ($15,000) and interest ($225) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 3PEB
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![Accompanying a bank statement for Borden Company is a credit memo for $15,225 representing the principal ($15,000) and interest ($225) on a note that had been
collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries.
Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.
UD](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8029cb5c-3a85-4a8e-805d-258db259b27c%2F98051cf6-56b6-4963-bf90-5e362f99e3e4%2Fgbpyq0l_processed.png&w=3840&q=75)
Transcribed Image Text:Accompanying a bank statement for Borden Company is a credit memo for $15,225 representing the principal ($15,000) and interest ($225) on a note that had been
collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries.
Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank.
UD
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