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Your answer is partially correct. Prepare any journal entries required from the bank reconciliation at July 31 of Crane Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Supplies (To record electronic collection) Cash Accounts Receivable (To record bank service charge) Bank Charges Expense cash (To record NSF cheque and charges) Debit Credit 10 10 10

Your answer is partially correct. Prepare any journal entries required from the bank reconciliation at July 31 of Crane Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Supplies (To record electronic collection) Cash Accounts Receivable (To record bank service charge) Bank Charges Expense cash (To record NSF cheque and charges) Debit Credit 10 10 10

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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- Your answer is partially correct. Prepare any journal entries required from the bank reconciliation at July 31 of Crane Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Supplies (To record electronic collection) Cash Accounts Receivable (To record bank service charge) Bank Charges Expense cash (To record NSF cheque and charges) Debit 10 00 00 Credit 00 00 00 E
Transcribed Image Text:- Your answer is partially correct. Prepare any journal entries required from the bank reconciliation at July 31 of Crane Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation July 31 31 31 Cash Supplies (To record electronic collection) Cash Accounts Receivable (To record bank service charge) Bank Charges Expense cash (To record NSF cheque and charges) Debit 10 00 00 Credit 00 00 00 E
Show Attempt History Current Attempt in Progress The following information pertains to Crane Corporation. 1. Balance per bank, July 31, $6,009. 2. 3. 4. 5. 6. 7. (a) July bank service charge not yet recorded by Crane, $25. Balance per books, July 31, $6,285. Deposits in transit, July 31, $2,137.- Electronic collection on account (EFT) from a customer, $1,653 not yet recorded by Crane. Outstanding cheques, July 31, $633. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge, $40. The charges will be added to the customer's account. Your answer is partially correct.
Transcribed Image Text:Show Attempt History Current Attempt in Progress The following information pertains to Crane Corporation. 1. Balance per bank, July 31, $6,009. 2. 3. 4. 5. 6. 7. (a) July bank service charge not yet recorded by Crane, $25. Balance per books, July 31, $6,285. Deposits in transit, July 31, $2,137.- Electronic collection on account (EFT) from a customer, $1,653 not yet recorded by Crane. Outstanding cheques, July 31, $633. Returned cheque from the deposit of a collection on account, $360, due to non-sufficient funds. Related bank service charge, $40. The charges will be added to the customer's account. Your answer is partially correct.
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