FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The bank reconciliation shows the following adjustments:
- Deposits in transit: $852
- Notes receivable collected by bank: $1,000; interest: $20
- Outstanding checks: $569
- Error by bank: $300
- Bank charges: $30
Using the following accounts:
| Bank Errors | Bank Service Charges | Cash | Deposits in Transit |
| Interest Expense | Interest Income | Notes Receivable | Outstanding Checks |
prepare the two correcting
| DR | [ Select ] ["Bank Service Charges", "Interest Expense", "Interest Income", "Bank Errors", "Cash"] | [ Select ] ["$569", "$30", "$300", "$1,020", "$852"] |
| CR | [ Select ] ["Interest Expense", "Cash", "Bank Service Charges", "Interest Income", "Bank Errors"] | [ Select ] ["$852", "$300", "$569", "$1,030", "$30"] |
and
| DR | [ Select ] ["Notes Receivable", "Interest Income", "Interest Expense", "Cash", "Bank Service Charges"] | [ Select ] ["$1,000", "$300", "$1,020", "$569", "$852"] |
| CR | [ Select ] ["Outstanding Checks", "Deposits in Transit", "Bank Errors", "Notes Receivable", "Interest Expense"] | [ Select ] ["$1,020", "$852", "$1,000", "$300", "$569"] |
| CR | [ Select ] ["Bank Errors", "Deposits in Transit", "Cash", "Outstanding Checks", "Interest Income"] | [ Select ] ["$1,020", "$20", "$569", "$300", "$852"] |
![The bank reconciliation shows the following adjustments:
• Deposits in transit: $852
• Notes receivable collected by bank: $1,000O; interest: $20
• Outstanding checks: $569
· Error by bank: $300
Bank charges: $30
Using the following accounts:
Bank Errors
Bank Service Charges
Cash
Deposits in Transit
Interest Expense
Interest Income
Notes Receivable
Outstanding Checks
prepare the two correcting journal entries:
DR
[ Select ]
[ Select ]
CR
[ Select ]
[ Select ]
and
DR
[ Select ]
[ Select]
CR
[ Select ]
[ Select ]
CR
[ Select ]
[ Select ]
>
>
>](https://content.bartleby.com/qna-images/question/f486ffb0-06e2-49a8-b83f-a9000215a6ef/d8a43f52-fa85-4f31-9821-667b073d9a19/k80ymvr9_processed.png)
Transcribed Image Text:The bank reconciliation shows the following adjustments:
• Deposits in transit: $852
• Notes receivable collected by bank: $1,000O; interest: $20
• Outstanding checks: $569
· Error by bank: $300
Bank charges: $30
Using the following accounts:
Bank Errors
Bank Service Charges
Cash
Deposits in Transit
Interest Expense
Interest Income
Notes Receivable
Outstanding Checks
prepare the two correcting journal entries:
DR
[ Select ]
[ Select ]
CR
[ Select ]
[ Select ]
and
DR
[ Select ]
[ Select]
CR
[ Select ]
[ Select ]
CR
[ Select ]
[ Select ]
>
>
>
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