Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 Checkin Account #123456-987 Additions Payments Balance $4,300.00 $16,475.06 $20,775.06 Date 09/24/2019 Loan Payment 09/24/2019 Deposit 09/23/2019 Check Type Deseription Online Transfer to CH xxXX 2,349.60 DEPOSIT ID NUMBER 8888 CHECK #1554 (view) Online Payment CHECK #1553 (view) CHECK #1551 (view) $4,300.00 $18,425.46 09/23/2019 Bi11 Payment 09/22/2019 Check 09/22/2019 Check $44.05 $22,725.46 $ 320.00 $22,769.51 $1,830.00 $23,089.5 $24,919.5 320.00 $15,219.51 $9,700.00 09/22/2019 ACH Credit 09/22/2019 ATH Edwards UK AP PAYMENT ATH WITHDRAWAL After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/2019 was for personal use by the owner, Robert Savage 2. 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. 3. The bill payment made 9/23/2019 was to Waste Control Trash Services (utilities). 4. 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.) View transaction list Journal entry worksheet 2 4 Record ATM withdrawal by Robert Savage for personal use Note: Enter debits before credits. Date General Journal Debit Credit Sep 22, 2019 Record entry View general journal Clear entry Journal entry worksheet 4 Record wire-transfer of funds received on account from Edwards UK. Note: Enter debits before credits. Date Credit General Journal Debit Sep 22, 2019 View general journal Record entry Clear entry Journal entry worksheet 2 4 Record on-line payment to Waste Control Trash Services. Note: Enter debits before credits. Date Debit Credit General Journal Sep 23, 2019 View general journal Record entry Clear entry Journal entry worksheet 4 Record loan payment to Central Motors. Note: Enter debits before credits. General Journal Debit Credit Date Sep 24, 2019 View general journal Record entry Clear entry

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditor Independence Auditing Corporate Governance And Market Confidence

Authors: Ismail Adelopo

1st Edition

1409434702, 978-1409434702

More Books

Students also viewed these Accounting questions