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Question Fill-in-the-blank The following information is available from the ACCOUNTING RECORDS: Unadjusted balance in the CASH account per the books at 10/31 Year 7 is
Question Fill-in-the-blank
The following information is available from the ACCOUNTING RECORDS: Unadjusted balance in the CASH account per "the books" at 10/31 Year 7 is $7,000. The following checks were written by ACTIVISION Inc. during October: The following customer checks were collected and then deposited in the bank: The BANK STATEMENT dated 10/31 Year 7 shows the following information: The 10/31 Year 7 ending balance in the checking account at "the BANK" is $10,460. Checks written by ACTIVISION Inc. which "cleared the bank" during October: Deposits received by the bank during October: - A $1,800 EFT collection by the bank from a customer. - A \$740 EFT payment from the bank to ACTIVISION Corp.'s creditors. - A $300 NSF customer check (i.e., bounced check) returned with bank statement. - Collection of \$4,000 NOTES RECEIVABLE plus \$240 INTEREST REVENUE. - A monthly service charge for September of $60 and a separate bank service charge for printed checks of $40. - \$440 INTEREST REVENUE on the interest-bearing checking account. he bank reconciliation for September, Year 7 (the previous month) showed the following: 1) Adjustments to the Bank's Records: Balance per bank statement $ + Deposits in transit, 10/31 + Bank error, deposit on 10/6 Outstanding checks - Check \# - Check \# $ $ $ $ 1$ \begin{tabular}{|l|} \hline Journal entries \\ are not \\ recorded \\ for these \\ items. \\ \hline \end{tabular} Adjusted balance $14,500Step by Step Solution
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