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Cottage Co. deposlts all cash recelpts on the day when they are recelved and It makes all cash payments by check. At the close of
Cottage Co. deposlts all cash recelpts on the day when they are recelved and It makes all cash payments by check. At the close of business on December 31, Its Cash account shows a debit balance of $19,103. The company's bank statement as of December 31 shows an ending cash balance of $16,241. The following Information was also avallable. .Outstanding checks as of December 31 total $2421 Included with the bank statement was a deblt memo In the amount of $115 for service charges. . Check No. 2519, listed with the canceled checks, was correctly drawn for $885 In payment of a utility bll on December 16. The company mistakenly recorded It with a debit to Utlities Expense and a credit to Cash In the amount of $1,010. The December 31 cash recelpts of $3,825 were placed In the bank's night depository after banking hours and were not recorded on the December 31 bank statement The bank deducted $1,260 for an NSF check from a customer deposlted on December 10. Required: Prepare the Journal entries for the ltems that would appear on the company's bank reconcillation as of December 31. (If no entry Is required for a transaction/event, select "No Journal Entry Required" In the first account field.) ew transaction lst Journal entry worksheet Record payment of utility bill of $835 as mistakenly $1,010 debiting utility bill and crediting cash. Note: Enter debits before credits. Dec 31 Record entry Clear entry Mew general journal
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