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Problem 17 : P8-36 Background: This problem continues the Canyon Canoe Company situation from Chapter 6. Canyon Canoe Company decided to open a new checking
Problem 17 : P8-36 Background: This problem continues the Canyon Canoe Company situation from Chapter 6. Canyon Canoe Company decided to open a new checking account at River Nations Bank during March 2019. The items listed under the Transactions tab are the adjustments required as a result of reconciling this new checking account at month end. Assignment: 1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete the entry, then repeat these steps for each transaction. 2) Click the Reports tab and review the results of recording these transactions on the General Ledger. 3) Click Submit Work when complete. Transactions: 03/31/2019 Record the entry needed for the EFT collection on account, $500. 03/31/2019 Record the entry needed for interest earned on the checking account, $45. 03/31/2019 Record the entry needed for the EFT payment for new bank checks, $55. 03/31/2019 Record the entry needed for the EFT payment of utilities, $270. 03/31/2019 Record the entry needed for the service charge from the bank, $70. BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Account Debit Credit O 03/31/2019 Select an account Account Unearned Revenue - 20550 Cash - 10100 Accounts Receivable - 10400 Interest Receivable - 10550 Merchandise Inventory - 10600 Office Supplies - 10650 Accounts Payable - 20100 Unearned Revenue - 20550 Wilson, Capital - 30100 Sales Revenue - 40100 Service Revenue - 40250 Bank Expense - 50350 Wages Expense - 50400 Supplies Expense - 50700 Utilities Expense - 50850 Interest Revenue - 60100
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