Question
After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity
After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows.
Business CheckingAccount #123456-987DateTypeDescriptionAdditionsPaymentsBalance09/24/2019Loan PaymentOnline Transfer to CM XXXX$4,800.00$16,975.0609/24/2019DepositDEPOSIT ID NUMBER 8888$2,399.60$21,775.0609/23/2019CheckCHECK #1554 (view)$4,800.00$19,375.4609/23/2019Bill PaymentOnline Payment$49.05$24,175.4609/22/2019CheckCHECK #1553 (view)$370.00$24,224.5109/22/2019CheckCHECK #1551 (view)$1,880.00$24,594.5109/22/2019ACH CreditEdwards UK AP PAYMENT$10,200.00$26,474.5109/22/2019ATMATM WITHDRAWAL$370.00$16,274.51
After matching these transactions to the company'sCashaccount in the general ledger, Johanna noted the following unrecorded transactions:
- The ATM withdrawal on 9/22/2019 was for personal use by the owner, Robert Savage.
- The ACH credit on 9/22/2019 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain.
- The bill payment made 9/23/2019 was to Waste Control Trash Services (utilities).
- The loan payment on 9/24/2019 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest.
Prepare the journal entries in a general journal to record the four transactions above.(Round your answers to 2 decimal places.)
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