1.Which the following would result in a journal entry after preparing the bank reconciliation?

Select one:

a.The bank made a mistake. A $650 company deposit was recorded as $560 in the bank statement.

b.A $250 outstanding cheque was issued by the company but hasn't yet cleared the chequing account.

c.EFT payment from customer on account.

d.The company deposited $650 at the bank but the deposit wasn't yet recorded in the bank statement.

2.A retailer made the following inventory purchases in February. Purchased 200 units at $8 each on Feb. 1. Purchased 350 units at the cost of $3,130 on Feb. 10. Purchased 100 units at $10 each on Feb. 28. On Feb. 15, there were 400 units sold. The retailer used a perpetual inventory system. Using the weighted average cost formula, the cost of goods sold for the February 15 sale was:

a.$3,526

b.$3,440

c.$2,290

d.$2,204

e.$2,375