ID: A 2. For each of the items below, use the following letters to identify the
ID: 2601066 • Letter: I
Question
ID: A 2. For each of the items below, use the following letters to identify the correct treatment in a bank reconciliation. A·Add to balance per bank B- Deduct from balance per bank C Add to balance per books D = Deduct from balance per books 1. Interest income --2. Outstanding checks 3. Check written for S89, but S98 recorded in books 4. Customer's NSF check 5. Note receivable collected by bank 6. Deposit made for $70, but $700 recorded in books 7. Bank check-printing charge 8. Check written for $52, but $25 recorded in books 9. Deposits in transit 10. Bank fee for collection on note receivable 3. Assume that part of accounts and other receivables on Thompson Toys' balance shect is $16 million as of February 2, 2010. Also assume that Allowance for Uncollectible Accounts has a credit balance of $550,000 and that Thompson estimates its uncollectible accounts as 0.1 percent of net sales and the amount of sales is S11,019,000,000. Record the adjusting entry to recognize uncollectible accounts using the percentage of net sales method. General Journal Post. Debit Credit Ref DateExplanation / Answer
2
1. Interest income=C
2. Outstanding checks= B
3. Checks written for 89....... =C.
4. Cutomers NSF checks=D
5.note receivable collected by bank= C
6. Deposit made for $70....= D
7. Bank check printing charge=D
8. Checks written for 52.....=D
9. Deposit in transit=A
10. Bank fee=D