The following information pertains to Vaughn Video Company. 1. Cash balance per bank, July 31, $7,503. 2. July bank service charge not recorded by the depositor $38. 3. Cash balance per books, July 31, $7,524. 4. Deposits in transit, July 31, $1,620. 5. Bank collected $1,020 note for Vaughn in July, plus interest $46, less fee $30. The collection has not been recorded by Vaughn, and no interest has been accrued. 6. Outstanding checks, July 31, $601.
The following information pertains to Vaughn Video Company. 1. Cash balance per bank, July 31, $7,503. 2. July bank service charge not recorded by the depositor $38. 3. Cash balance per books, July 31, $7,524. 4. Deposits in transit, July 31, $1,620. 5. Bank collected $1,020 note for Vaughn in July, plus interest $46, less fee $30. The collection has not been recorded by Vaughn, and no interest has been accrued. 6. Outstanding checks, July 31, $601.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
i need help filling out this table
The following information pertains to Vaughn Video Company.
| 1. | Cash balance per bank, July 31, $7,503. | |
| 2. | July bank service charge not recorded by the depositor $38. | |
| 3. | Cash balance per books, July 31, $7,524. | |
| 4. | Deposits in transit, July 31, $1,620. | |
| 5. | Bank collected $1,020 note for Vaughn in July, plus interest $46, less fee $30. The collection has not been recorded by Vaughn, and no interest has been accrued. | |
| 6. | Outstanding checks, July 31, $601. |
Transcribed Image Text:Journalize the adjusting entries at July 31 on the books of Vaughn 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
(To record the collection of the note.)
July 31
(To record the bank service charge.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education