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Prepare the adjustment that the clerk would have made to record the NSF check. Increase or Decrease which accounts Following is a bank reconciliation for
Prepare the adjustment that the clerk would have made to record the NSF check. Increase or Decrease which accounts
Following is a bank reconciliation for Zocar Enterprises for June 30, 2018. Cash Account $23,940 Bank Statement $20,095 4,875 (360) Balance as of 6/30/2018 Deposit in transit Outstanding checks Note collected by bank Bank service charge NSF check Adjusted cash balance as of 6/30/2018 2,035 (15) (1,350) $ 24,610 $24,610 As part of the normal process for handling an NSF check, the accounting clerk has notified the customer that their account did not contain sufficient funds to pay the balance owed to the company. The customer was told that they need to provide an alternative form of payment to cover the outstanding balance. Required a. Prepare the adjustment that the clerk would have made to record the NSF check. Adjustment to accounts receivable by and cash byStep by Step Solution
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