In ezto.mheducation.com M5-9 Preparing Journal Entries after a Bank Reconciliati
ID: 2565149 • Letter: I
Question
In ezto.mheducation.com M5-9 Preparing Journal Entries after a Bank Reconciliation [LO 5-4] For the following transactions, prepare journal entries needed to adjust the company's books. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Outstanding checks of $12,800. b. Bank service charge of $10. c. Deposit in transit of $3,100. d. Interest eamed of $13. View transaction list Journal entry worksheet Record the outstanding checks of $12,800. Note: Enter debits before credits ransactio General Journal Debit Credit Record entry Clear entry View general journal 6Explanation / Answer
SOLUTION:
Journal entries:
1) Outstanding checks of $12,800
No journal entry required
2) Bank service charge $10
Dr. Office expense $10
Cr. Cash $10
3) Deposit in transit $3,100
No journal entry required
4) Interest earned of $13
Dr. Cash $13
Cr. Interest revenue $13