Hannah Company needs to make adjusting entries for each of the following reconciling items. Identify the account to be debited and the account to be credited in each case.
1. A check for $172 written to the company by J. Chandler was returned NSF.
2. The monthly service charge by the bank was $18.
3. The bank collected a $2000 note plus interest of $200 on the company's behalf. The company had not accrued the interest.

Question

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The Answer of Hannah Company needs to make adjusting entries for each of the following reconciling items. Identify the account to be debited and the account to be credited in each case.
1. A check for $172 written to the company by J. Chandler was returned NSF.
2. The monthly service charge by the bank was $18.
3. The bank collected a $2000 note plus interest of $200 on the company's behalf. The company had not accrued the interest.

Hannah Company Needs to Make Adjusting Entries for Each of the Following