23 On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cashbalance per the November 30 bank statement is $5,942. The following information is gathered from the bankstatement and company records:Checks outstandingDeposits outstandingInterest earned on bank accountService feeMultiple ChoiceO AccountCashWhat journal entry should the company make after performing the bank reconciliation to adjust its Cashaccount by recording any items that increase cash?OService Fee ExpenseOAccountCashInterest RevenueO AccountInterest RevenueCashAccountCash$Interest RevenueDeposits Outstanding$1,3253,2383625DebitDebitDebitDebit2536363,724CreditCreditCreditCredit253636363,238

All the items that are omitted or incorrect in the books are recorded after preparing the bank…

On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding Interest earned on bank account Service fee Multiple Choice O Account Cash Service Fee Expense What journal entry should the company make after performing the bank reconciliation to adjust its Cash account by recording any items that increase cash? Account Cash Interest Revenue O Account Interest Revenue Cash Account Cash $ $ Interest Revenue Deposits Outstanding $ LALA 1,325 3,238 36 25 Debit Debit Debit Debit 25 36 36 3,724 Credit Credit Credit Credit 25 36 36 36 3,238

On November 30, Cactus Company's cash balance per its general ledger is $7,844. The bank's cash balance per the November 30 bank statement is $5,942. The following information is gathered from the bank statement and company records: Checks outstanding Deposits outstanding Interest earned on bank account Service fee Multiple Choice O Account Cash Service Fee Expense What journal entry should the company make after performing the bank reconciliation to adjust its Cash account by recording any items that increase cash? Account Cash Interest Revenue O Account Interest Revenue Cash Account Cash $ $ Interest Revenue Deposits Outstanding $ LALA 1,325 3,238 36 25 Debit Debit Debit Debit 25 36 36 3,724 Credit Credit Credit Credit 25 36 36 36 3,238

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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