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Brief Exercise 4-29 (Algorithmic) Adjusting Entry from Bank Reconciliation Samba Corporation operates in an industry with a high collectability issues. Recently, one of Samba's customers
Brief Exercise 4-29 (Algorithmic) Adjusting Entry from Bank Reconciliation Samba Corporation operates in an industry with a high collectability issues. Recently, one of Samba's customers wrote a check for $725 for services performed. Samba's bank later informed Samba that its customer did not have cash available in his account to cover the $725 charge. As a result, Samba's bank assesses a $75 fee as the result of the NSF check received. Samba has not yet adjusted its books for the bank fee or the NSF check. Required: Record the appropriate journal entry to update Samba's books. For a compound transaction, if an amount box does not require an entry, leave it blank. Bank Service Charge Expense
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