$15,130. During the month of July, Blossom recorded cash receipts of $17,360 and cash payments of $19,440 in the general ledger Cash account. At July 31, Blossom Limited had an reconciled cash balance of $13,050. An examination of the company's July bank statement shows a balance of $15,398 on July 31; outstanding cheques $2,900; deposits in transit $1,160; EFT collections on accou that were not yet recorded on the books $1,740; NSF cheque $1,020; NSF fee $40; and bank service charges $72. Prepare the necessary journal entries required on July 31 for Blossom. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Accounts Receivable (To record EFT collections on account) Bank Charges Expense Cash (To record bank service charges) Accounts Receivable Cash (To record NSF cheque and fee) Debit 13050 Credit
$15,130. During the month of July, Blossom recorded cash receipts of $17,360 and cash payments of $19,440 in the general ledger Cash account. At July 31, Blossom Limited had an reconciled cash balance of $13,050. An examination of the company's July bank statement shows a balance of $15,398 on July 31; outstanding cheques $2,900; deposits in transit $1,160; EFT collections on accou that were not yet recorded on the books $1,740; NSF cheque $1,020; NSF fee $40; and bank service charges $72. Prepare the necessary journal entries required on July 31 for Blossom. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Accounts Receivable (To record EFT collections on account) Bank Charges Expense Cash (To record bank service charges) Accounts Receivable Cash (To record NSF cheque and fee) Debit 13050 Credit
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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![The following information relates to Blossom Limited's Cash account. The reconciled cash balance from June's bank reconciliation is
$15,130. During the month of July, Blossom recorded cash receipts of $17,360 and cash payments of $19,440 in the general ledger
Cash account. At July 31, Blossom Limited had an reconciled cash balance of $13,050. An examination of the company's July bank
statement shows a balance of $15,398 on July 31; outstanding cheques $2,900; deposits in transit $1,160; EFT collections on account
that were not yet recorded on the books $1,740; NSF cheque $1,020; NSF fee $40; and bank service charges $72.
Prepare the necessary journal entries required on July 31 for Blossom. (List all debit entries before credit entries. Credit account
titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for
the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation
July 31
31
31
Cash
Accounts Receivable
(To record EFT collections on account)
Bank Charges Expense
Cash
(To record bank service charges)
Accounts Receivable
Cash
(To record NSF cheque and fee)
Debit
13050
100
Credit
0 [0]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7b8b5bbd-b2e5-4859-9cb9-95cf252d567f%2F412d5ae0-b34e-4825-9f0c-19067486976d%2Fnz4qk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information relates to Blossom Limited's Cash account. The reconciled cash balance from June's bank reconciliation is
$15,130. During the month of July, Blossom recorded cash receipts of $17,360 and cash payments of $19,440 in the general ledger
Cash account. At July 31, Blossom Limited had an reconciled cash balance of $13,050. An examination of the company's July bank
statement shows a balance of $15,398 on July 31; outstanding cheques $2,900; deposits in transit $1,160; EFT collections on account
that were not yet recorded on the books $1,740; NSF cheque $1,020; NSF fee $40; and bank service charges $72.
Prepare the necessary journal entries required on July 31 for Blossom. (List all debit entries before credit entries. Credit account
titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for
the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation
July 31
31
31
Cash
Accounts Receivable
(To record EFT collections on account)
Bank Charges Expense
Cash
(To record bank service charges)
Accounts Receivable
Cash
(To record NSF cheque and fee)
Debit
13050
100
Credit
0 [0]
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