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please post quickly When Blossom Holdings Ltd. received its bank statement for the month of October, it showed that the company had a cash balance
please post quickly When Blossom Holdings Ltd. received its bank statement for the month of October, it showed that the company had a cash balance of $13,424 as at October 31. Blossom's general ledger showed a cash balance of $15,256 at that date. A comparison of the bank statement and the accounting records revealed the following information: 1. 2. 3. Bank service charges and debit and credit card processing fees for the month were $52. Acheque in the amount of $460 from one of Blossom's customers that had been deposited during the last week of October was returned with the bank statement as "NSFO Cheque #3421, which was a payment for utilities expenses, had been correctly written for $688 but had been incorrectly recorded in the general ledger as $544. Blossom had written and mailed out cheques with a value of $2,120 that had not yet cleared the bank account. During the month, the bank collected a $1,600 note receivable plus the outstanding interest of $144 on behalf of Blossom. The interest had already been accrued by Blossom. The cash receipts for October 31 amounted to $5,040 and had been deposited in the night deposit chute at the bank on the evening of October 31. These were not reflected on the bank statement for October 4 4. 5. 5 6. Prepare any journal entries required from the reconciliation (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Oct. 31 I (To record EFT collections) 31 (To record EFT collections) 31 (To record account receivable) 31 (To adjust cheque #3421) 31 (To record bank service charge)
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