The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998.?
(a)Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495.
(b)Deposits in transit not recorded by bank, $778.
(c)Bank debit memo for service charges, $40.
(d)Bank credit memo for note collected by bank, $23,985 plus $885 interest.
(e)Bank debit memo for $756 NSF
(not sufficient funds) check from Calin Sams, a customer.
(f)Checks outstanding, $1,860.

Record the appropriate journal entries that would be necessary for Jeffrey Co.

Question

The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998.?
(a)Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495.
(b)Deposits in transit not recorded by bank, $778.
(c)Bank debit memo for service charges, $40.
(d)Bank credit memo for note collected by bank, $23,985 plus $885 interest.
(e)Bank debit memo for $756 NSF 
(not sufficient funds) check from Calin Sams, a customer.
(f)Checks outstanding, $1,860.

Record the appropriate journal entries that would be necessary for Jeffrey Co.

Quizplus · Accepted Answer

The Answer of The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998.?
(a)Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495.
(b)Deposits in transit not recorded by bank, $778.
(c)Bank debit memo for service charges, $40.
(d)Bank credit memo for note collected by bank, $23,985 plus $885 interest.
(e)Bank debit memo for $756 NSF 
(not sufficient funds) check from Calin Sams, a customer.
(f)Checks outstanding, $1,860.

Record the appropriate journal entries that would be necessary for Jeffrey Co.

The Bank Statement for Jeffrey Co