The following information is about the cash balances for Mooner Sooner Inc.: Company balance: $5,020 Bank balance: $8,000 Checks outstanding: $5,800 Note collected by the bank: $1,500 Service fee: $20 Deposits outstanding: $4,000 NSF check (bad check) returned for $300 The ending cash balance for Mooner Sooner Inc. is $6,200
The following information is about the cash balances for Mooner Sooner Inc.: Company balance: $5,020 Bank balance: $8,000 Checks outstanding: $5,800 Note collected by the bank: $1,500 Service fee: $20 Deposits outstanding: $4,000 NSF check (bad check) returned for $300 The ending cash balance for Mooner Sooner Inc. is $6,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following information is about the cash balances for Mooner Sooner Inc.:
Company balance: $5,020
Bank balance: $8,000
Checks outstanding: $5,800
Note collected by the bank: $1,500
Service fee: $20
Deposits outstanding: $4,000
NSF check (bad check) returned for $300
The ending cash balance for Mooner Sooner Inc. is $6,200
Record entries to update the balance of cash in the company's records:
Debit
[Select]
[Select]
[Select]
[Select]
[Select]
>
[Select]
[Select]
[Select]
Credit
[Select]
[Select]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd26076b1-8500-43f4-86ac-3866f0031f54%2F61dd90ad-8bc3-4ca2-85b9-bb41363f423f%2Fwuavy4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information is about the cash balances for Mooner Sooner Inc.:
Company balance: $5,020
Bank balance: $8,000
Checks outstanding: $5,800
Note collected by the bank: $1,500
Service fee: $20
Deposits outstanding: $4,000
NSF check (bad check) returned for $300
The ending cash balance for Mooner Sooner Inc. is $6,200
Record entries to update the balance of cash in the company's records:
Debit
[Select]
[Select]
[Select]
[Select]
[Select]
>
[Select]
[Select]
[Select]
Credit
[Select]
[Select]
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