The following information pertains to Concord Video Company. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. Bank collected $1,150 note for Concord in July, plus interest $45, less fee $29. The collection has not been recorded by Concord, and no interest has been accrued. 6. Outstanding checks, July 31, $600. (b) Journalize the adjusting entries at July 31 on the books of Concord Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit July 31 Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount (To record the collection of the note.) July 31 Enter an account title to record the bank service charge Enter a debit amount Enter a credit amount Enter an account title to record the bank service charge Enter a debit amount Enter a credit amount (To record the bank service charge
The following information pertains to Concord Video Company. 1. Cash balance per bank, July 31, $7,763. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31, $7,784. 4. Deposits in transit, July 31, $1,750. 5. Bank collected $1,150 note for Concord in July, plus interest $45, less fee $29. The collection has not been recorded by Concord, and no interest has been accrued. 6. Outstanding checks, July 31, $600. (b) Journalize the adjusting entries at July 31 on the books of Concord Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit July 31 Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount Enter an account title to record the collection of the note Enter a debit amount Enter a credit amount (To record the collection of the note.) July 31 Enter an account title to record the bank service charge Enter a debit amount Enter a credit amount Enter an account title to record the bank service charge Enter a debit amount Enter a credit amount (To record the bank service charge
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 3CPP
Related questions
Question
The following information pertains to Concord Video Company.
| 1. | Cash balance per bank, July 31, $7,763. | |
| 2. | July bank service charge not recorded by the depositor $37. | |
| 3. | Cash balance per books, July 31, $7,784. | |
| 4. | Deposits in transit, July 31, $1,750. | |
| 5. | Bank collected $1,150 note for Concord in July, plus interest $45, less fee $29. The collection has not been recorded by Concord, and no interest has been accrued. | |
| 6. | Outstanding checks, July 31, $600. |
(b) Journalize the adjusting entries at July 31 on the books of Concord Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
No.
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|---|---|---|
|
July 31
|
Enter an account title to record the collection of the note
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title to record the collection of the note
|
Enter a debit amount
|
Enter a credit amount
|
|
|
Enter an account title to record the collection of the note
|
Enter a debit amount
|
Enter a credit amount
|
|
|
Enter an account title to record the collection of the note
|
Enter a debit amount
|
Enter a credit amount
|
|
|
(To record the collection of the note.)
|
|||
|
July 31
|
Enter an account title to record the bank service charge
|
Enter a debit amount
|
Enter a credit amount
|
|
Enter an account title to record the bank service charge
|
Enter a debit amount
|
Enter a credit amount
|
|
|
(To record the bank service charge.)
|
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