Question
The receipt of $460 on February 14 was for a $445 note collected by the bank, plus $20 current interest, minus a $5 service charge
The receipt of $460 on February 14 was for a $445 note collected by the bank, plus $20 current interest, minus a $5 service charge (Miscellaneous expense). The company's accounting records contained the following information: Cash balance on February 28 from the books: $2,610.42
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
