Please show me the correct way to solve this financial accounting problem with accurate methods. Silver Oak Corporation reports a cash balance at the end of the month of $4,500. A comparison of thecompany's cash records with the monthly bank statement reveals several additional cash transactions:•Bank service fees ($50)••An NSF check from a customer ($120)A customer's note receivable collected by the bank ($900)Interest earned ($25)What is the reconciled company balance for cash?

Step 1: Define Reconciled Cash BalanceThe reconciled cash balance is the adjusted cash balance after…

Answered: Silver Oak Corporation reports a cash…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter8: Internal Control And Cash

Section: Chapter Questions

Problem 21E

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What is the journal entry to record an NSF check, from J. Smith for 250, that is returned with the bank statement? a. Cash 250 DR; NSF Check 250 CR b. Accounts Receivable 250 DR; Cash 250 CR c. NSF Check 250 DR; Accounts Receivable 250 CR d. Cash 250 DR; Accounts Receivable 250 CR e. Cash 250 DR; Miscellaneous Expense 250 DR
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Can you answer this accounting question?
Bourne Incorporated reports a cash balance at the end of the month of $2,170. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($67), an NSF check from a customer ($170), a customer's note receivable collected by the bank ($1,100), and interest earned ($17). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the amounts that increase cash. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal
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Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash.
Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2 Service Fee Expense selected answer correct 85 selected answer correct Notes receivable incorrect answer please help me finish the problem i keep getting stuck. Its not -85 for credit and its not -35 so what is it
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Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Please do journal enteries

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