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After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows: Business Checking Account #123456-987 Date Type Description 09/24/20X1 09/24/20X1 09/23/20X1 Loan Payment Deposit Check Online Transfer to HMG XXX 09/23/20X1 Bill Payment 09/22/20X1 Check 09/22/20X1 Check 09/22/20X1 ACH Credit DEPOSIT ID NUMBER 8888 CHECK #1554 (view) Online Payment CHECK #1553 (view) CHECK #1551 (view) Additions $ 2,359.60 Payments $ 4,900.00 $ 4,400.00 Balance $ 12,508.06 $ 17,408.06 $ 15,048.46 $ 35.05 $ 330.00 $ 4,400.00 $ 19,448.46 $ 19,483.51 $ 19,813.51 $9,800.00 $ 24,213.51 $ 330.00 $ 14,413.51 09/22/20X1 ATM Edwards UK AP PAYMENT ATM WITHDRAWAL After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/20X1 was for personal use by the owner, Robert Savage. 2. The ACH credit on 9/22/2001 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain. 3. The bill payment made 9/23/20X1 was to Waste Control Trash Services (utilities). 4. The loan payment on 9/24/20X1 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Prepare the journal entries in a general journal to record the four transactions above. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < 1 2 3 Record ATM withdrawal by Robert Savage for personal use. Note: Enter debits before credits. Date September 22, 20X1 General Journal Debit Credit View general journal Clear entry Record entry >

After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows: Business Checking Account #123456-987 Date Type Description 09/24/20X1 09/24/20X1 09/23/20X1 Loan Payment Deposit Check Online Transfer to HMG XXX 09/23/20X1 Bill Payment 09/22/20X1 Check 09/22/20X1 Check 09/22/20X1 ACH Credit DEPOSIT ID NUMBER 8888 CHECK #1554 (view) Online Payment CHECK #1553 (view) CHECK #1551 (view) Additions $ 2,359.60 Payments $ 4,900.00 $ 4,400.00 Balance $ 12,508.06 $ 17,408.06 $ 15,048.46 $ 35.05 $ 330.00 $ 4,400.00 $ 19,448.46 $ 19,483.51 $ 19,813.51 $9,800.00 $ 24,213.51 $ 330.00 $ 14,413.51 09/22/20X1 ATM Edwards UK AP PAYMENT ATM WITHDRAWAL After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/20X1 was for personal use by the owner, Robert Savage. 2. The ACH credit on 9/22/2001 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain. 3. The bill payment made 9/23/20X1 was to Waste Control Trash Services (utilities). 4. The loan payment on 9/24/20X1 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Prepare the journal entries in a general journal to record the four transactions above. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < 1 2 3 Record ATM withdrawal by Robert Savage for personal use. Note: Enter debits before credits. Date September 22, 20X1 General Journal Debit Credit View general journal Clear entry Record entry >

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 17E: Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc....
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After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows: Business Checking Account #123456-987 Date Type Description 09/24/20X1 09/24/20X1 09/23/20X1 Loan Payment Deposit Check Online Transfer to HMG XXX 09/23/20X1 Bill Payment 09/22/20X1 Check 09/22/20X1 Check 09/22/20X1 ACH Credit DEPOSIT ID NUMBER 8888 CHECK #1554 (view) Online Payment CHECK #1553 (view) CHECK #1551 (view) Additions $ 2,359.60 Payments $ 4,900.00 $ 4,400.00 Balance $ 12,508.06 $ 17,408.06 $ 15,048.46 $ 35.05 $ 330.00 $ 4,400.00 $ 19,448.46 $ 19,483.51 $ 19,813.51 $9,800.00 $ 24,213.51 $ 330.00 $ 14,413.51 09/22/20X1 ATM Edwards UK AP PAYMENT ATM WITHDRAWAL After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/20X1 was for personal use by the owner, Robert Savage. 2. The ACH credit on 9/22/2001 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain. 3. The bill payment made 9/23/20X1 was to Waste Control Trash Services (utilities). 4. The loan payment on 9/24/20X1 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Prepare the journal entries in a general journal to record the four transactions above. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < 1 2 3 Record ATM withdrawal by Robert Savage for personal use. Note: Enter debits before credits. Date September 22, 20X1 General Journal Debit Credit View general journal Clear entry Record entry >
Transcribed Image Text:After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows: Business Checking Account #123456-987 Date Type Description 09/24/20X1 09/24/20X1 09/23/20X1 Loan Payment Deposit Check Online Transfer to HMG XXX 09/23/20X1 Bill Payment 09/22/20X1 Check 09/22/20X1 Check 09/22/20X1 ACH Credit DEPOSIT ID NUMBER 8888 CHECK #1554 (view) Online Payment CHECK #1553 (view) CHECK #1551 (view) Additions $ 2,359.60 Payments $ 4,900.00 $ 4,400.00 Balance $ 12,508.06 $ 17,408.06 $ 15,048.46 $ 35.05 $ 330.00 $ 4,400.00 $ 19,448.46 $ 19,483.51 $ 19,813.51 $9,800.00 $ 24,213.51 $ 330.00 $ 14,413.51 09/22/20X1 ATM Edwards UK AP PAYMENT ATM WITHDRAWAL After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/20X1 was for personal use by the owner, Robert Savage. 2. The ACH credit on 9/22/2001 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain. 3. The bill payment made 9/23/20X1 was to Waste Control Trash Services (utilities). 4. The loan payment on 9/24/20X1 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Prepare the journal entries in a general journal to record the four transactions above. Note: Round your answers to 2 decimal places. View transaction list Journal entry worksheet < 1 2 3 Record ATM withdrawal by Robert Savage for personal use. Note: Enter debits before credits. Date September 22, 20X1 General Journal Debit Credit View general journal Clear entry Record entry >
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