Cash Receipt # 95Dated April 12, 2022From WiseGuys, cheque #189 for $1 800 in payment of invoice #285.Sage 50 Journal Entry:04-12-2022 J9 95, Wise Guys108041001200Bank: CAD ChequingSales DiscountsAccounts Receivable1,800.00101.701,901.70Compare the transaction information and the transaction as captured in Sage and state, whatwas done wrong and how would you correct it?

Journal entry refers to the initial recording of the transactions in the books. These entries are…

Answered: Cash Receipt #95 Dated April 12, 2022…

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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mentSéssionLocator=&inprogress-false Update I eBook Show Me How Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,630. During May, the total cash deposited was $73,040 and checks written totaled $67,820. The bank statement indicated a balance of $24,760 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: a. Checks outstanding totaled $11,030. b. A deposit of $8,980, representing receipts of May 31, had been made too late to appear on the bank statement. C. The bank had collected for Brentwood Bike Co. $4,750 on a note left for collection. The face of the note was $4,380. d. A check for $270 returned with the statement had been incorrectly charged by the bank as $720. e. A check for $850 returned with the statement had been recorded by Brentwood Bike Co. as $580. The check was for the payment of an obligation f. Bank service charges…
eBook Print Item 3 M5-9 (Algo) Preparing Journal Entries after a Bank Reconciliation [LO 5-4] For the following transactions, prepare journal entries needed to adjust the company's books. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Outstanding checks of $12,800. Bank service charge of $10. Deposit in transit of $3,100. Interest earned of $13.
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A check register shows a balance of $484.95. The bank statement shows a cash balance of $506.27. The check register shows an outstanding check for $27.82. The bank statement shows a service charge of $6.50. Compute the adjusted balance of the check register and the bank statement. 467.45 578.45 None of the above 487.45 $478.45
Company Crane sells $ 800 of merchandise on account to Company Blossom with credit terms of 1/15, n/30. If Company Blossom remits a check taking advantage of the discount offered, what is the amount of Company Blossom's check? O S710 O $792 O $530 O $620
Pls account ques hlp sir
Questions and Bank Reconciliation Problem Question 26 of 27 50 / 100 View Policies Show Attempt History Current Attempt in Progress The following information pertains to Concord Corporation. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. The bank collected $1,166 in July for Concord through electronic funds transfer. The collection has not been recorded by Concord. 6. Outstanding checks, July 31, $600. (a) Your answer is correct. Drena o o rOcenciliotionat luly 21 (List itoms th ease coch halance fret Docencile ca halo II
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Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,037 and No. 5893 for $502. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,915 11,479 19,564 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 09/04 09/07 09/17 09/20 09/22 09/22 09/28 09/29 1,037 781 09/05 09/12 09/21 09/25 09/30 09/30 1,163 2,228 4,012 2,368 18 IN 5888 5902 1,900 670 NSF 936 378 2,097 264 1,852 5901 5905 5903 5904 1,690 CM 5907 5909 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sept. 5 12 1,163 2,228 4,012 2,368 1,660 21 25 30 11,431 Cash Payments Cash Check No. 5901 Credit 1,900 781 5902 5903 5904 378 2,054 936 1,034 264 391 1,852 5905 5906 5907…
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