Essay
The bank statement for Gatlin Co. indicates a balance of $7,735 on June 30. After the journal entries for June had been posted, the cash account had a balance of $4,098.
(a)Cash sales of $742 had been erroneously recorded in the cash receipts journal as $724.(b)Deposits in transit not recorded by bank, $425.(c)Bank debit memo for service charges, $35.(d)Bank credit memo for note collected by bank, $2,475 including $75 interest.(e)Bank debit memo for $256 NSF (not sufficient funds) check from Janice Smith, a customer.(f)Checks outstanding, $1,860.
Record the appropriate journal entries that would be necessary for Gatlin Co.
Correct Answer:
Verified
Correct Answer:
Verified
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