Question
On March 30, a firm's bank reconciliation statement shows a book balance of $31,640, an NSF check of $800, and a service charge of $40.
On March 30, a firm's bank reconciliation statement shows a book balance of $31,640, an NSF check of $800, and a service charge of $40. The journal entry on March 30 to record these items would be:
| DEBIT | CREDIT | ||
| (A) | Accounts Receivable | 800 | |
| Bank Fees Expense | 40 | ||
| Cash | 840 | ||
| (B) | Cash | 840 | |
| Bank Fees Expense | 40 | ||
| NSF Expense | 800 | ||
| (C) | Miscellaneous Expenses | 840 | |
| Cash | 840 | ||
| (D) | Cash | 840 | |
| Accounts Receivable | 800 | ||
| Bank Fees Expense | 40 | ||
Multiple Choice
-
Option A.
-
Option B.
-
Option C.
-
Option D.
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
Statistical Sampling And Risk Analysis In Auditing
Authors: Peter Jones
1st Edition
1138263214, 978-1138263215
