The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO
The following information relates to Ivanhoe Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $16,300. During the month of July, Ivanhoe recorded cash receipts of $18,650 and cash payments of $20,910 in the general ledger Cash account. At July 31, Ivanhoe Limited had an reconciled cash balance of $14,040. An examination of the company's July bank statement shows a balance of $16,529 on July 31; outstanding cheques $3,110; deposits in transit $1,250; EFT collections on account that were not yet recorded on the books $1,860; NSF cheque $1,110; NSF fee $43; and bank service charges $78. Prepare the necessary journal entries required on July 31 for Ivanhoe. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation July 31 31 31 (To record EFT collections on account) (To record bank service charges) (To record NSF cheque and fee) Debit Credit DO DO
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 3CPP
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am 400.
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