Egrane Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation for the period showed an adjustment for a deposit in transit of $1.200, outstanding checks of $1,600, a NSF check of $560, bank service charges of $24 and the EFT from a customer in payment of the customer's account of $1,200. What journal entry should be recorded by Egrane for the EFT? Multiple Choice Debit Cash and credit Sales Revenue for $1,200. No journal entry is necessary for this item Debit Accounts Receivable and credit Cash for $1.200 Debit Cash and credit Accounts Receivable for $1.200