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required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indera ount is entered. Do not indent manually. List all debit entries before credit entries) punt Titles and Explanation: Debit Credit

required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indera ount is entered. Do not indent manually. List all debit entries before credit entries) punt Titles and Explanation: Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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*Your answer is incorrect. Prepare journal entries required to adjust the cash account at November 30. (Enter answers to 2 decimal places, eg 125.62 entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indera the amount is entered. Do not indent manually. List all debit entries before credit entries) Account Titles and Explanation Interest Expense Interest Payable (To record Interest) Debit Credit 11
Transcribed Image Text:*Your answer is incorrect. Prepare journal entries required to adjust the cash account at November 30. (Enter answers to 2 decimal places, eg 125.62 entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indera the amount is entered. Do not indent manually. List all debit entries before credit entries) Account Titles and Explanation Interest Expense Interest Payable (To record Interest) Debit Credit 11
Presented below is information related to Sheffield Inc. Balance per books at October 31, $115,081.59; receipts $477,190.75; disbursements $453,457.24. Balance per bank statement November 30, $154,754.05. The following checks were outstanding at November 30. 1224 1230 1232 1233 $4,497.05 6.787.83 5.844.16 1.325.97 Included with the November bank statement and not recorded by the company were a bank debit memo for $75.35 covering bank charges for the month, a debit memo for $1.023.36 for a customer's check returned and marked NSF, and a credit memo for $3,850 representing band interest collected by the bank in the name of Sheffield Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $5.267.35.
Transcribed Image Text:Presented below is information related to Sheffield Inc. Balance per books at October 31, $115,081.59; receipts $477,190.75; disbursements $453,457.24. Balance per bank statement November 30, $154,754.05. The following checks were outstanding at November 30. 1224 1230 1232 1233 $4,497.05 6.787.83 5.844.16 1.325.97 Included with the November bank statement and not recorded by the company were a bank debit memo for $75.35 covering bank charges for the month, a debit memo for $1.023.36 for a customer's check returned and marked NSF, and a credit memo for $3,850 representing band interest collected by the bank in the name of Sheffield Inc. Cash on hand at November 30 recorded and awaiting deposit amounted to $5.267.35.
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