INTERMEDIATE ACCOUNTING 17E - UNC CHARL
17th Edition
ISBN: 9781119631828
Author: Kieso
Publisher: WILEY
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Journalize entries and prepare a bank reconciliation
1. Cash balance per bank, July 31, $8,004.
2. July bank service charge not recorded by the depositor $46.
3. Cash balance per books, July 31, $8,096.
4. Deposits in transit, July 31, $3,266.
5. $1,840 collected from a customer for Sheridan Company in July by the bank through electronic funds transfer. The collection has not been recorded by Sheridan Company.
6. Outstanding checks, July 31, $1,380.
Sales reported on the income statement for Lansing Corp. were $315,420. The accounts receivable balance declined by $29,750 over the year. Determine the amount of cash received from customers.
Compute the company's gross profit percentage of this financial accounting question
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