Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information pertains to Crane Video Company. 1. Cash balance per bank, July 31, $7,943. 2. July bank service charge not recorded by the

The following information pertains to Crane Video Company.

1. Cash balance per bank, July 31, $7,943.
2. July bank service charge not recorded by the depositor $37.
3. Cash balance per books, July 31, $7,964.
4. Deposits in transit, July 31, $1,840.
5. Bank collected $1,240 note for Crane in July, plus interest $45, less fee $29. The collection has not been recorded by Crane, and no interest has been accrued.
6. Outstanding checks, July 31, $600.

image text in transcribed

Journalize the adjusting entries at July 31 on the books of Crane Video Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit No. Aocount Titles and Explanation Debit July 31 (To record the collection of the note.) July 31 (To record the bank service charge.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What the Numbers Mean

Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,

9th Edition

978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062

More Books

Students also viewed these Accounting questions

Question

2. List your top 10 film villains.

Answered: 1 week ago