Question
Hello, please answer 23, 24, and 25. Please help, thank you! 23. Meng Company maintains a $375 petty cash fund. On January 31, the fund
Hello, please answer 23, 24, and 25. Please help, thank you!
23. Meng Company maintains a $375 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $95 for office supplies, $190 for merchandise inventory, and $35 for miscellaneous expenses. There is a cash shortage of $9. The journal entry to replenish the fund on January 31 is:
24. On November 19, Nicholson Company receives a $24,000, 60-day, 6% note from a customer to replace an account receivable. What adjusting entry should be made by Nicholson on the December 31 year-end? (Use 360 days a year.)
25. Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows a $26,361 balance in the bank. Ryan's comparison of the bank statement to its cash account revealed the following:
Deposit in transit 3,050
Outstanding checks 1,269
Additionally, a $38 check written and recorded by the company was incorrectly recorded by the bank as a $83 deduction. The adjusted cash balance per the bank records should be
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