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Exercise 9.8 (Algo) Journalizing electronic transactions. LO 9-7 After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity
Exercise 9.8 (Algo) Journalizing electronic transactions. LO 9-7 After returning from a three-day business trip, the accountant for Southeast Sales, Johanna Estrada, checked bank activity in the company's checking account online. The activity for the last three days follows. Additions $2, 299. 60 Business Checking Date Type 09/24/20X1 Loan payment 09/24/20X1 Deposit 09/23/20X1 Check 09/23/20X1 Bill payment 09/22/20X1 Check 09/22/20X1 Check 09/22/20X1 ACH credit 09/22/20X1 ATM Account #123456-987 Description Online Transfer to CM XXXX Deposit ID number 8888 Check #1554 (view) Online payment Check #1553 (view) Check #1551 (view) Edwards UK AP payment ATM withdrawal Payments Balance $3,800.00 $15, 975.06 $19, 775.06 $3,800.00 $17, 475.46 $ 39. 05 $21, 275, 46 $ 270.00 $21, 314.51 $1, 780.00 $21, 584.51 $23, 364.51 $ 270.00 $14, 164.51 $9,200.00 After matching these transactions to the company's Cash account in the general ledger, Johanna noted the following unrecorded transactions: 1. The ATM withdrawal on 9/22/20x1 was for personal use by the owner, Robert Savage. 2. The ACH credit on 9/22/20X1 was an electronic funds payment received on account from Edwards UK, a credit customer located in Great Britain. 3. The bill payment made 9/23/20X1 was to Waste Control Trash Services (utilities). 4. The loan payment on 9/24/20X1 was an automatic debit by Central Motors for the company's monthly payment on a loan for its automobiles. The loan does not bear interest. Required: Prepare the journal entries in a general journal to record the four transactions above. View transaction list Journal entry worksheet Record ATM withdrawal by Robert Savage for personal use. Note: Enter debits before credits. Date General Journal Debit Credit Sept. 22, 20X1 Record entry Clear entry View general journal
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