Samba Corporation operates in an industry with a high collectability issues. Recently, one of Samba's customers wrote a check for $235 for services performed. Samba's bank later informed Samba that its customer did not have cash available in his account to cover the $235 charge. As a result, Samba's bank assesses a $30 fee as the result of the NSF check received. Samba has not yet adjusted its books for the bank fee or the NSF check. Required:   Hide     Record the appropriate journal entry to update Samba's books. For a compound transaction, if an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Samba Corporation operates in an industry with a high collectability issues. Recently, one of Samba's customers wrote a check for $235 for services performed. Samba's bank later informed Samba that its customer did not have cash available in his account to cover the $235 charge. As a result, Samba's bank assesses a $30 fee as the result of the NSF check received. Samba has not yet adjusted its books for the bank fee or the NSF check.

Required:


  Hide    

Record the appropriate journal entry to update Samba's books. For a compound transaction, if an amount box does not require an entry, leave it blank.



 
 
       
 
 
 
 
 
 
 
 
 
 
 
 
       

 

 
 

 

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