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1 Record a credit memo in the amount of $970 for an EFT in payment of a customer's account. 2 Record the payment of an
1 Record a credit memo in the amount of $970 for an EFT in payment of a customer's account. 2 Record the payment of an account payable which was correctly written for $2,650, but was recorded in the accounting records as $2,940. 3 Record the amount $127 deducted for an NSF check from a customer deposited on November 22. 4 Record a debit memorandum in the amount of $125 for bank service charges. The following information is available for the Tierney Company for the month of November. . On November 30, after all transactions have been recorded, the balance in the company's Cash account has a balance of $29,202. The company's bank statement shows a balance on November 30 of $30,279. Outstanding checks at November 30 include check #3030 in the amount of $1,825 and check #3556 in the amount of $1,559. Included with the bank statement was a credit memo in the amount of $970 for an EFT in payment of a customer's account. The bank deducted $127 for an NSF check from a customer deposited on November 22. A deposit placed in the bank's night depository on November 30 totaled $1,975 and did not appear on the bank statement. Examination of the checks on the bank statement with the entries in the accounting records reveals that check #3445 for the payment of an account payable was correctly written for $2,650, but was recorded in the accounting records as $2,940. Included with the bank statement was a debit memorandum in the amount of $125 for bank service charges. Required: Prepare the journal entries for the items that would appear on the company's bank reconciliation as of November 30. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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