Question
A bank reconciliation report dated 10/31 included the following items. If the item would require an October journal entry, identify whether cash would be debited
A bank reconciliation report dated 10/31 included the following items. If the item would require an October journal entry, identify whether cash would be debited or credited. If the item would NOT require an entry, select No entry.
1. Check #234 was recorded for $510 on 10/2. The check was actually written for $150. It cleared the bank on 10/8. Debit, credit, no entry
2. The company recorded a customer's payment of $500 on 10/28. They deposited the check on 11/1. debit,Credit, no entry
3. The bank charged the company a $15 service charge on October 31. debit,credit, No entry
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started