INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
INTER. ACCOUNTING - CONNECT+ALEKS ACCESS
10th Edition
ISBN: 9781264770335
Author: SPICELAND
Publisher: MCG
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Prepare any necessary journal entries based on the following data regarding the bank reconciliation prepared by Ragoon Services on May 31, 2019.   a) Outstanding cheques amount to $1,650. b) The service charges for May amount to $35.
Prepare the journal entries, with appropriate journal entry descriptions, for 2020, including any required year-end adjusting entries.The company prepares annual adjusting entries.
On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $121,800 on December 31, 2022. The proceeds of the note were $114,600. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. Record the journal entry to show the effects of recording interest expense for the month of September. Record the journal entry to show the effects of repaying the note on December 31, 2022.
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