Question
The information below relates to the Cash account in the ledger of Bonita Company. Balance September 1-$17,250; Balance September 30-$17,744; Cash deposited-$64,300. Checks written-$63,806. The
The information below relates to the Cash account in the ledger of Bonita Company. Balance September 1-$17,250; Balance September 30-$17,744; Cash deposited-$64,300. Checks written-$63,806. The September bank statement shows a balance of $16,762 on September 30 and the following memoranda. Credits Debits Collection of $1,661 note plus interest $39 $1,700 Interest earned on checking account $54 NSF check: Richard Nance Safety deposit box rent $595 $74 At September 30, deposits in transit were $4,620, and outstanding checks totaled $2,553 Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Sept. 30 (To record note receivable.) Sept. 30 Sept. 30 Sept. 30 (To record interest earned.) (To record NSF check.) (To record safety deposit rent.) Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started