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This information relates to the Cash account in the ledger of Crane Company. Balance September 1-$20,450; Cash deposited-$64,000 Balance September 30-$21,650; Checks written-$62,800 The September bank statement shows a balance of $20,550 at September 30 and the following memoranda. Credits Collection from customer of electronic funds transfer $2,370 Interest earned on checking account 55 Debits NSF check: H. Kane Safety deposit box rent At September 30, deposits in transit were $5,288 and outstanding checks totaled $2,933. Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to 2 decimal places, eg. 2,525.25.) $1,100 70

This information relates to the Cash account in the ledger of Crane Company. Balance September 1-$20,450; Cash deposited-$64,000 Balance September 30-$21,650; Checks written-$62,800 The September bank statement shows a balance of $20,550 at September 30 and the following memoranda. Credits Collection from customer of electronic funds transfer $2,370 Interest earned on checking account 55 Debits NSF check: H. Kane Safety deposit box rent At September 30, deposits in transit were $5,288 and outstanding checks totaled $2,933. Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Round answers to 2 decimal places, eg. 2,525.25.) $1,100 70

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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answer in text form please (without image), Note: .Every entry should have narration please
This information relates to the Cash account in the ledger of Crane Company. Balance September 1-$20,450; Cash deposited-$64,000 Balance September 30-$21,650; Checks written-$62,800 The September bank statement shows a balance of $20,550 at September 30 and the following memoranda. Credits Collection from customer of electronic funds transfer $2,370 Interest earned on checking account 55 At September 30, deposits in transit were $5,288 and outstanding checks totaled $2,933, Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries. Round answers to 2 decimal places, e.g. 2,525.25.) Date July 31 July 31 July 31 July 31 Account Titles and Explanation (To record electronic funds transfer) (To record NSF check) (To correct error in recording check Debits NSF check: H. Kane Safety deposit box rent Debit 100 00 Credit 00 00 00 [ $1,100 SUPPORT 70
Transcribed Image Text:This information relates to the Cash account in the ledger of Crane Company. Balance September 1-$20,450; Cash deposited-$64,000 Balance September 30-$21,650; Checks written-$62,800 The September bank statement shows a balance of $20,550 at September 30 and the following memoranda. Credits Collection from customer of electronic funds transfer $2,370 Interest earned on checking account 55 At September 30, deposits in transit were $5,288 and outstanding checks totaled $2,933, Prepare the necessary adjusting entries at July 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries. Round answers to 2 decimal places, e.g. 2,525.25.) Date July 31 July 31 July 31 July 31 Account Titles and Explanation (To record electronic funds transfer) (To record NSF check) (To correct error in recording check Debits NSF check: H. Kane Safety deposit box rent Debit 100 00 Credit 00 00 00 [ $1,100 SUPPORT 70
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