(b) As of March 31, prepare related journal entries. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date. Account Titles and Explanation Debit Credit Mar 31. enter an account title to record electronic funds transfer received by bank on March 31 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on March 31 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) 31. enter an account title to record non sufficient funds check on March 31 enter a debit amount enter a credit amount enter an account title to record non sufficient funds check on March 31 enter a debit amount enter a credit amount (To record NSF check) 31. enter an account title to correct error in recording check on March 31 enter a debit amount enter a credit amount enter an account title to correct error in recording check on March 31 enter a debit amount enter a credit amount (To correct error in recording check)
(b) As of March 31, prepare related journal entries. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date. Account Titles and Explanation Debit Credit Mar 31. enter an account title to record electronic funds transfer received by bank on March 31 enter a debit amount enter a credit amount enter an account title to record electronic funds transfer received by bank on March 31 enter a debit amount enter a credit amount (To record electronic funds transfer received by bank) 31. enter an account title to record non sufficient funds check on March 31 enter a debit amount enter a credit amount enter an account title to record non sufficient funds check on March 31 enter a debit amount enter a credit amount (To record NSF check) 31. enter an account title to correct error in recording check on March 31 enter a debit amount enter a credit amount enter an account title to correct error in recording check on March 31 enter a debit amount enter a credit amount (To correct error in recording check)
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 1PB
Related questions
Question
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Part A is complete. Would appreciate help with part b. thanks.
A review of the March 30 bank statement and other data of Sheridan Aviation revealed a $18,484 balance at March 31 on the bank statement and $18,158 as the balance in the cash account in the company’s ledger. In addition, the following information was determined:
1. | NSF Check from J. Beiber in payment of account $196 | |
2. | Collection of a customer electronic payment by the bank $2,508. | |
3. | Deposits in transit at March 31 $3,322. | |
4. | Outstanding checks at March 31 $1,987. | |
5. | A check written by Sheridan to Copytronics for a copy machine repair on March 13 was recorded at $1,320 but correctly cleared the bank at $1,230. | |
6. | A check drawn on the account of Halen Electronics for $741 was mistakenly charged against Sheridan’s account by the bank. |
(a) As of March 31, prepare the bank reconciliation for the month of March (omit heading). (List items that increase balance as per bank & books first.)
select an opening name for section one
|
$enter a dollar amount
|
||||
---|---|---|---|---|---|
select between addition and deduction :
|
|||||
select a reconciling item
|
enter a dollar amount
|
||||
select a reconciling item
|
enter a dollar amount
|
||||
enter a total amount for the first part
|
|||||
select between addition and deduction :
|
select a reconciling item
|
enter a dollar amount
|
|||
select a closing name for section one
|
$enter a total amount for section one
|
||||
select an opening name for section two
|
$enter a dollar amount
|
||||
select between addition and deduction :
|
|||||
select a reconciling item
|
enter a dollar amount
|
||||
select a reconciling item
|
enter a dollar amount
|
||||
enter a total amount for the second part
|
|||||
select between addition and deduction :
|
select a reconciling item
|
enter a dollar amount
|
|||
select a closing name for section two
|
$enter a total amount for section two
|
(b) As of March 31, prepare related journal entries. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date.
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
Mar 31.
|
enter an account title to record electronic funds transfer received by bank on March 31
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record electronic funds transfer received by bank on March 31
|
enter a debit amount
|
enter a credit amount
|
|
(To record electronic funds transfer received by bank)
|
|||
31.
|
enter an account title to record non sufficient funds check on March 31
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record non sufficient funds check on March 31
|
enter a debit amount
|
enter a credit amount
|
|
(To record NSF check)
|
|||
31.
|
enter an account title to correct error in recording check on March 31
|
enter a debit amount
|
enter a credit amount
|
enter an account title to correct error in recording check on March 31
|
enter a debit amount
|
enter a credit amount
|
|
(To correct error in recording check)
|
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