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The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO

The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO

FINANCIAL ACCOUNTING
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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am 400.

The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO
Transcribed Image Text:The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO
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