Roucher Corporation's Bank Statement Included Two Types of Electronic Funds

Essay

Roucher Corporation's bank statement included two types of electronic funds transfers (EFT). One type of EFT totaled $10,000 and was from customers paying their accounts online. Another type of EFT totaled $16,500 and was from Roucher paying its accounts payable online. Required: (a) How will each of these items affect Roucher's bank reconciliation? (b) Prepare the required journal entries, if any, that Roucher will make to record the above information on its books.