The following information pertains to Sandhill Company.1.2.3.4,5.Cash balance per books, August 31, $7,424.Cash balance per bank, August 31, $7,388.Outstanding checks, August 31, $697.August bank service charge not recorded by the depositor $49.Deposits in transit, August 31, $3.160.In addition, $2,476 was collected for Sandhill Company in August by the bank through electronic funds transfer. The collection has nobeen recorded by Sandhill Company. (b)Journalize the adjusting entries at August 31 on the books of Sandhill Company. (Credit account titles are automaticallyindented when amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry isrequired, select "No Entry" for the account titles and enter O for the amounts.)Date Account Titles and ExplanationAugust 31August 31(To record electronic funds transfer)(To record bank service charge)DebitCredit

Journal entry: - Entries recorded in the journal book are known as journal entries. Journal is a…

The following information pertains to Sandhill Company. 1. 2. 3. 4. 5. Cash balance per books, August 31, $7,424. Cash balance per bank, August 31, $7,388. Outstanding checks, August 31, $697. August bank service charge not recorded by the depositor $49. Deposits in transit, August 31, $3,160. In addition, $2,476 was collected for Sandhill Company in August by the bank through electronic funds transfer. The collection has ne been recorded by Sandhill Company.

The following information pertains to Sandhill Company. 1. 2. 3. 4. 5. Cash balance per books, August 31, $7,424. Cash balance per bank, August 31, $7,388. Outstanding checks, August 31, $697. August bank service charge not recorded by the depositor $49. Deposits in transit, August 31, $3,160. In addition, $2,476 was collected for Sandhill Company in August by the bank through electronic funds transfer. The collection has ne been recorded by Sandhill Company.

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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