Answered step by step
Verified Expert Solution
Question
1 Approved Answer
need help for general journal entry 5 Part 2 of 2 12.5 points Required information Use the following information for the Quick Studies 12-13 below.
need help for general journal entry
5 Part 2 of 2 12.5 points Required information Use the following information for the Quick Studies 12-13 below. (Algo) [The following information applies to the questions displayed below.) Organic Food Company's Cash account shows a $7.400 debit balance and its bank statement shows $6,490 on deposit at the close of business on August 31 a. August 31 cash receipts of $3,140 were placed in the bank's night depository after banking hours and were not recorded on the August 31 bank statement b. The bank statement shows a $310 NSF check from a customer, the company has not yet recorded this NSF check c. Outstanding checks as of August 31 total $3,020, d. In reviewing the bank statement, an $270 check written by Organic Fruits was mistakenly drawn against Organic Food's account. e. The August 31 bank statement lists $210 in bank service charges, the company has not yet recorded the cost of these services QS 6-13 (Algo) Entries from bank reconciliation LO P3 Prepare any necessary journal entries that Organic Food Company must record as a result of preparing the bank reconciliation (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No 1 Answer is complete but not entirely correct. Transaction General Journal Debit a. No journal entry required Credit NO b. Miscellaneous expenses Cash 3107 310 c. Cash Utilities expense XX 3,0208 3,020X 4 d. No journal entry required S 270X 5 e. x Cash short and over Cash 210 210 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started